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It’s just basic mathematics

Thursday, Oct 30, 2014

* Bond expert states the obvious

In Illinois, which has the most underfunded retirement system among U.S. states with a $100 billion uncovered pension liability, incumbent Democratic governor Pat Quinn wants to turn a temporary income tax rise enacted in 2011 into a permanent one.

His Republican opponent Bruce Rauner wants to phase it out and suggests savings instead, such as ending the practice of ramping up state employees’ pay before they retire to boost their pensions.

“The permanence of that tax increase would make it a better credit,” said Peter Hayes, Head of BlackRock’s Municipal Bonds Group, which holds a variety of Illinois-based debt. Hays said that could potentially make the group notch up its exposure to the state’s debt.

* And now, let’s clean out my in-box. AP

Democratic Gov. Pat Quinn and Republican challenger Bruce Rauner picked up additional endorsements from newspapers around the state.

The (Carbondale) Southern Illinoisan endorsed Quinn on Wednesday, while The Quincy Herald-Whig endorsed Rauner on Thursday.

The Southern described its choice of Quinn as “the devil you know.” The endorsement says Illinois is a “mess” but questions Rauner’s proposals to reduce the state’s income tax and freeze property taxes.

The Herald-Whig says it backs Rauner because the state needs “bold, decisive leadership.”

* Pat Quinn’s latest 15-second TV ad

* Tribune

First lady Michelle Obama will appear Saturday in Moline at a get-out-the-vote rally for three Democrats: Gov. Pat Quinn, Sen. Dick Durbin and Rep. Cheri Bustos.

All three are running for re-election Tuesday and face Republican challenges.

* BND

New Jersey Gov. Chris Christie, chairman of the Republican Governors Association, will attend a rally Sunday in East Alton for GOP gubernatorial candidate Bruce Rauner.

* Not playing well in the sandbox

In a press release today, the Illinois Conservatives Facebook page announced they are recommending that Illinois conservatives vote for Republican gubernatorial candidate Bruce Rauner in Tuesday’s election.

The announcement caused division within the Facebook page’s leadership. Two longtime conservatives on the board - Downstate businessman Brian Milleville and attorney Sharee Langenstein - resigned after the board voted by 70 percent to endorse Rauner.

* I’ve been warning the GOP about this for a while now. Sending voting reminder notices to Democrats is not a good idea…


* Speaking of the twitters…


Heh.

* Other stuff that’s keeping my browser tabs open all day…

* Bernard Schoenburg: Bell accuses Scherer of ‘illegally’ taking tax break while he got same exemption

* Even with GOP pushback, Libertarians optimistic in final stretch

* Chicago ad execs on the Bruce Rauner and Pat Quinn ad campaigns

- Posted by Rich Miller        

29 Comments
  1. - John A Logan - Thursday, Oct 30, 14 @ 3:58 pm:

    Must have been an oversight for Sheila Simon not to be included on the campaign trail with FLOTUS.


  2. - Team Sleep - Thursday, Oct 30, 14 @ 4:01 pm:

    That’s right, Governor Quinn! Imagine what DCEO giveaway you could announce with that $1 million!


  3. - Shark Sandwich - Thursday, Oct 30, 14 @ 4:02 pm:

    Those are fun ..

    Bruce Rauner pours his milk in the bowl, and THEN the cereal. Did he really think we wouldn’t find out?


  4. - Oswego Willy - Thursday, Oct 30, 14 @ 4:07 pm:

    ===It’s nice getting a letter from Bruce Rauner reminding me that I need to vote when it certainly won’t be for him
    1:33 PM - 30 Oct 2014===

    I keep getting stuff too.

    I am Under Voting Rauner Crew, but if you want to waste your time, so be it.

    And…don’t tell me the GOTV is understanding the harvesting of “True Pluses” when I am continually in their universe as an “R”, and the household too.


  5. - Jaded - Thursday, Oct 30, 14 @ 4:07 pm:

    I agree that reminding Democrats to vote is a bad idea, but if Mr. Hume is plugged in enough to Tweat about it, I’m guessing he was going to vote all along.

    Now if you start getting a lot of “tweets” from the South and West side saying “Wow, I had no idea there was an election next Tuesday until Bruce Rauner reminded me.” Guess I’ll go vote for…who is the other guy again… Madigan…no, no, the other Irish guy…oh yea Cullerton…no, no, no, the bald guy…oh yea Quinn…” then I’ll start to believe that the plan backfired.

    Now that popsicle thing…that’s funny.


  6. - JS Mill - Thursday, Oct 30, 14 @ 4:08 pm:

    =The Herald-Whig says it backs Rauner because the state needs “bold, decisive leadership.”= Right, what are candidate Bruce “Waffle House” Rauner’s stances on the minimum wage, off-shoring jobs, raising (keepin the current rate) or lowering the income tax today? Very decisive I am sure. /snark


  7. - anon - Thursday, Oct 30, 14 @ 4:08 pm:

    Pat Quinn lets the weeds in his yard get 1-2 feet high. Did he really think we wouldn’t find out?


  8. - cover - Thursday, Oct 30, 14 @ 4:10 pm:

    Bruce Rauner is the walrus. Did he really think we wouldn’t find out?


  9. - Team Sleep - Thursday, Oct 30, 14 @ 4:12 pm:

    Chris Downing’s tweets remind me of those Hunter Pence jokes.


  10. - cover - Thursday, Oct 30, 14 @ 4:12 pm:

    Bruce Rauner drank the orange juice straight from the carton, then put it back in the fridge. Did he really think we wouldn’t find out?


  11. - Reality Check - Thursday, Oct 30, 14 @ 4:13 pm:

    @JS Mill, I suspect the “bold, decisive leadership” they’re talking about is taking collective bargaining rights from workers, pay and benefits from people injured on the job, compensation from victims of unsafe products, and pensions from teachers, but their candidate would prefer they didn’t say so honestly.


  12. - Norseman - Thursday, Oct 30, 14 @ 4:14 pm:

    Raunervich is obviously not into math. He’s into storytelling. He’ll tell us any story to get his prize. The problem for Illinois is that a bunch of folks will be disappointed that he does the opposite of what he promised or he will make the finances drastically worse than they are now.


  13. - Bill White - Thursday, Oct 30, 14 @ 4:16 pm:

    Speaking of not playing nice . . .

    == “Together Illinois,” a PAC funded by well-heeled Republicans, and led by former Illinois Attorney General Ty Fahner, spent $50,000 against [Dwight] Kay in his Metro East district and $25,000 against [David] McSweeney in his northwest suburban district. ==

    http://illinoisreview.typepad.com/illinoisreview/2014/10/circular-firing-squad-republican-pac-takes-aim-at-ilgop-house-members.html#more


  14. - Concerned - Thursday, Oct 30, 14 @ 4:17 pm:

    Rauner orders hot dogs with ketchup. Did he really think we wouldn’t find out?


  15. - anon - Thursday, Oct 30, 14 @ 4:18 pm:

    Pat Quinn doles out tax payers money like Sam’s Club doles out free samples of food. Did he really think nobody would find out?


  16. - Team Sleep - Thursday, Oct 30, 14 @ 4:24 pm:

    Bill - that is insane. Dwight Kay is still a corporate VP and very much a business-friendly legislator. This is just like Dan Proft and Richard Uelhein (sp?) wasting money on primaries when the money could actually be put to good use later on. Why not aim that $$$ at Sue Scherer or Mike Smiddy or Kate Cloonen?


  17. - anon - Thursday, Oct 30, 14 @ 4:27 pm:

    What is that, 15 newspapers for Rauner and wait……………….

    2 for ‘ol Pat. Rockford and Carbondale.


  18. - Rich Miller - Thursday, Oct 30, 14 @ 4:27 pm:

    Team Sleep, if you subscribed you’d know why - like two or three weeks ago.


  19. - Team Sleep - Thursday, Oct 30, 14 @ 4:32 pm:

    Rich - I read that. I just think it’s incredible stupid and vapid - especially since there are so many tight races where that money could actually help.


  20. - Wordslinger - Thursday, Oct 30, 14 @ 4:33 pm:

    Is Christie big in East Alton?

    (that’s a beach ball down Broadway, go yard).

    Seriously, what’s the point of him showing up all the time? Just send the checks.

    Are Big Jim or Edgar going to do anything for Rauner? Or are they corrupt old insiders, in his fantasy narrative?

    Maybe his pals the Daley boys will do something for him wherever they remain popular. Won’t be an all-day job.


  21. - Archiesmom - Thursday, Oct 30, 14 @ 4:36 pm:

    Nobody’s joking about Hunter Pence today!


  22. - circularfiringsquad - Thursday, Oct 30, 14 @ 4:43 pm:

    Mitt Rauner orders his horseshoes with nails
    Did he think we would not find out?

    The next QOTD should be what does Proft have on Uline to get all that money?


  23. - 47th Ward - Thursday, Oct 30, 14 @ 4:52 pm:

    ===2 for ‘ol Pat.===

    “VO: From Rockford to Carbondale, Pat Quinn is being endorsed for Governor by newspaper editorial boards impressed with his leadership that is turning Illinois around.”

    Well, that’s the way I’d write the ad script.


  24. - How Ironic - Thursday, Oct 30, 14 @ 5:10 pm:

    I just received a phone call imploring me to vote for Rauner. Funny because 1. I was registered Democrat in IL 2. I don’t live in IL any more.
    3. It was my cellphone, and I didn’t get a live person, just a recording. Can I file a complaint because I’m on the do-not-call list?


  25. - low level - Thursday, Oct 30, 14 @ 5:19 pm:

    Had Dillard won the primary, I doubt I would have gotten all the mailers I’ve gotten from my union urging me to vote for Quinn. As a matter of fact, a goid 40-50% of my coworkers would have voted Republican for the first time in their lives all over pensions.

    Instead they nominated a guy that has a plainly unconstitutional plan and who has people voting for Quinn enthusiastically.


  26. - Anonymous - Thursday, Oct 30, 14 @ 6:17 pm:

    - low level - Thursday, Oct 30, 14 @ 5:19 pm:

    Had Dillard won the primary, I doubt I would have gotten all the mailers I’ve gotten from my union urging me to vote for Quinn. As a matter of fact, a goid 40-50% of my coworkers would have voted Republican for the first time in their lives all over pensions.

    Instead they nominated a guy that has a plainly unconstitutional plan and who has people voting for Quinn enthusiastically.

    Agreed


  27. - RNUG - Thursday, Oct 30, 14 @ 8:37 pm:

    The bond expert stated the same thing that I’ve said for some time re the bond ratings … the only difference between Pension reform in Illinois and a number of other states that saw their bond rating numbers improve is that the other states made their tax increase permanent.


  28. - South Of I-80 - Thursday, Oct 30, 14 @ 8:53 pm:

    There wouldn’t be this huge back and forth if Rutherford or Dillard would have won the nomination. Now I just want the election over with.


  29. - crazybleedingheart - Thursday, Oct 30, 14 @ 10:11 pm:

    The popsicle joke is gold. Bruce Rauner WOULD eat a blue one.


Sorry, comments for this post are now closed.


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