Latest Post | Last 10 Posts | Archives
Previous Post: It’s just a bill
Next Post: The appearance of access
Posted in:
* And it’s only gonna get worse if we don’t get a real budget…
$12,401,195,168.60
GENERAL FUNDS PAYABLES BACKLOG AS OF 2/21
4.06% INCREASE FROM 2/14https://t.co/G21DQvmIiy#ILBudget #twill #ILBudgetNow pic.twitter.com/cSC4Ru6O9P— Illinois Comptroller (@ILComptroller) February 22, 2017
posted by Rich Miller
Wednesday, Feb 22, 17 @ 1:30 pm
Sorry, comments are closed at this time.
Previous Post: It’s just a bill
Next Post: The appearance of access
WordPress Mobile Edition available at alexking.org.
powered by WordPress.
Is there an Illinois pension budget deficit clock? While a $12.4 billion backlog is pretty bad, the real elephant in the room is the $130+ billion pension liability.
Comment by Romeo Wednesday, Feb 22, 17 @ 1:32 pm
6 credit downgrades…
$12+ billion in backlogged bills…
No budgetary appropriations available for Higher Education…
Social Services suing the Governor, even a reluctant First Lady, calling it “only” a business decision…
Continued MAP funding in jeopardy…
Governors Own their terms.
Looking above…
“Bruce Rauner failed” - budgets, backlogged bills, higher education, social services, students…
… the needy, seniors, Illinois’ most vulnerable.
The Heartless Rauner’s only measure is…
“$12,401,195,168.60″
That’s Bruce Rauner destroyin’ Illinois.
Oswego Willy
Comment by Oswego Willy Wednesday, Feb 22, 17 @ 1:36 pm
Romeo: the pension, nor pension recipients, didn’t cause this. No need to vilify them anymore than the GOP already has.
Comment by Now What? Wednesday, Feb 22, 17 @ 1:37 pm
Way to go Bruce. s/
Comment by Saluki Wednesday, Feb 22, 17 @ 1:38 pm
- Romeo -
Quinn made the pension payments.
Rauner?
Welp…
Comment by Oswego Willy Wednesday, Feb 22, 17 @ 1:40 pm
I get that there’s a “pension liability” but I’d love for someone to explain it to me. In 2002, there was an ERI. Not all of those jobs were filled. There are probably more retired people getting a pension today than there will be in the future. If we’re making the payment today, why can’t the payment be made tomorrow? I guess they’re trying to fill the “hole” of money that they stole and that’s where this big bill comes from. Couldn’t it be looked at as a monthly bill?? A Tier 3 with a 401k is needed. If i was Tier 2, I’d jump on that one in a heartbeat. Then you have the Tier 1’s to contend with. Like I say, there are probably more on the pension payroll today then there will be in 10 years. I see this as an “issue” that will fix itself in time.
Comment by sickntired Wednesday, Feb 22, 17 @ 1:42 pm
I know this is often directed toward union voters, but the question needs to be asked of a much larger group. Illinoisans, do you think Pat Quinn learned his lesson yet?
Comment by AC Wednesday, Feb 22, 17 @ 1:43 pm
Skyhook in reverse.
Btw OW the kids are not fans of you. I say skyhook in reverse probably to much causing instant eye rolls from my teens. Watch yourself, one of these says some brunette teen girl is going to approach you deliver a roundhouse and scream “own” that! Don’t complain I didn’t warn you!
Comment by Honeybear Wednesday, Feb 22, 17 @ 1:51 pm
One dimension of a 3 dimension hole. Lets have the week’s receipts and the week’s payments along with the week’s increase in backlog.
Comment by PAM Wednesday, Feb 22, 17 @ 1:57 pm
That’s $364,741,035.25 for every year MJM has been in leadership
Comment by Texas Red Wednesday, Feb 22, 17 @ 2:00 pm
- Honeybear -
I’ll be on the lookout!
I’ll also say she might have to wait in line!
Keep up the good fight - Honeybear -
Comment by Oswego Willy Wednesday, Feb 22, 17 @ 2:01 pm
Romeo, let me correct a previous poster. The TAXPAYERS funded the pension from ‘11-’14, paying roughly $30 billion in additional taxes, money not available to buy goods and services for 4 years.
Comment by Piece of Work Wednesday, Feb 22, 17 @ 2:02 pm
- Texas Red -
Hope you felt better…
The reality is Rauner has done nothing to stop the exacerbation of the backlog that Quinn never had this high.
I know it may upset you, but if “Pat Quinn failed” Rauner, by nearly every measure has made Illinois worse off since becoming governor.
So… there’s that.
Comment by Oswego Willy Wednesday, Feb 22, 17 @ 2:04 pm
No worries. “Job creators” don’t care about that stuff; they’re positively orgasmic about term limits.
Thank God we have a fiscal conservative as governor. I saw that on the Tee Vee box.
Comment by wordslinger Wednesday, Feb 22, 17 @ 2:05 pm
- Piece of Work -
Those receiving pensions are taxpayers too.
But, you already know that.
Comment by Oswego Willy Wednesday, Feb 22, 17 @ 2:05 pm
Curious as to how old the oldest Debt is & how many are over a year old?
2 years old?
Comment by WhoKnew Wednesday, Feb 22, 17 @ 2:08 pm
Quinn made the pension payments…by selling bonds and raising the income tax temporarily.
Rauner made the pension payments…while the backlog of bills doubled.
Both of those approaches aren’t long-term or sustainable. Ball’s in Rauner’s court.
Comment by Phenomynous Wednesday, Feb 22, 17 @ 2:13 pm
I have a procedural question. The state sales and income taxes continue to roll in, right? So how is ti that the bill backlog grows? Is the state sitting on this cash but can’t pay the bills because there is no approp? Thanks
Comment by Anon Wednesday, Feb 22, 17 @ 2:19 pm
===While a $12.4 billion backlog is pretty bad, the real elephant in the room is the $130+ billion pension liability.===
Yes, but it is not immediately due, whereas the $12.4 billion backlog is a more immediate pressing need. There is time to pay down and restructure the pension underfunding, and a few Tier 1 pensioners and their surviving spouses die every day.
Comment by Six Degrees of Separation Wednesday, Feb 22, 17 @ 2:20 pm
Blame or no blame, there doesn’t seem to be any realistic way the state will ever recover from this…
Comment by JDuc Wednesday, Feb 22, 17 @ 2:20 pm
=== So how is ti that the bill backlog grows?===
You may need a remedial arithmetic class. There isn’t enough money coming in the doors to pay the bills. More approps wouldn’t solve that problem without… wait for it… enough revenues to pay the bills.
Comment by Rich Miller Wednesday, Feb 22, 17 @ 2:21 pm
That’s some deep yogurt.
Comment by 47th Ward Wednesday, Feb 22, 17 @ 2:23 pm
Uh..thanks - I’ve heard lots of comments/news regarding the bill backlog growing as a result of not having a budget. That was confusing to me. I’m pretty sure I get the arithmetic of not enough cash in to pay out…
Comment by Anon Wednesday, Feb 22, 17 @ 2:28 pm
==Quinn made the pension payments…by selling bonds and raising the income tax temporarily.==
That was part of it. Also many painful cuts. And the courage to pay the dang bills. And call for new revenue. Courage. Period.
Comment by Handle Bar Mustache Wednesday, Feb 22, 17 @ 2:32 pm
On top of this, seems like there’s a decent chance Federal Medicaid $$ will be going down, whether through block grants or per capital limits or whatever.
Comment by Earnest Wednesday, Feb 22, 17 @ 2:35 pm
Whenever this ends get ready for the media and public blowback on what Rauner has caused. They’ll all be outraged and incredulous as to how this happened and the required revenues to fix it.
But don’t expect the realization to occur before BVR leaves office. It’s like rinse and repeat from the Blago era.
Comment by El Conquistador Wednesday, Feb 22, 17 @ 2:37 pm
Right now our credit rating is one step above MTV’s parent Viacom. Of course lately MTV has been getting its act together.
Comment by A Jack Wednesday, Feb 22, 17 @ 2:38 pm
–Whenever this ends get ready for the media and public blowback on what Rauner has caused.–
When can we expect the Illinois media (with some notable exceptions, including our host) to get interested in fiscal matters?
A $12B backlog isn’t a scandal; a $32K used car is.
Comment by wordslinger Wednesday, Feb 22, 17 @ 2:44 pm
-Now What?-
==the pension, nor pension recipients, didn’t cause this. No need to vilify them anymore than the GOP already has.==
Not vilifying, just asking if there’s an Illinois pension liability clock like www.usdebtclock.org
Comment by Romeo Wednesday, Feb 22, 17 @ 2:48 pm
== I get that there’s a “pension liability” but I’d love for someone to explain it to me. ==
The simple answer is the State paid in less than the actuarially calculated pension payments for most of the last 50 to 100 years, depending on what point you want to start counting from. The pension “reform” bill commonly referred to as the Edgar Ramp just codified that practice and backlogged the debt.
Comment by RNUG Wednesday, Feb 22, 17 @ 2:55 pm
POW, why is it”additional?” It’s an equal part of the employment deal with State employees including benefits and salary. And those employees provided “goods and services” the taxpayers enjoyed and took advantage of during those years. It stinks that we have to pay in 2017 for employment expenses incurred over the past several decades. No one, Dem or GOP, is happy about it. But how about we stop whining about it and address the issue before our children are complaining in 2030 that we knew of this liability and purposefully neglected it. You know, like the earlier generation did to us.
Comment by Original Rambler Wednesday, Feb 22, 17 @ 3:06 pm
–Good question. Likely when they (both the media and our host) no longer fear Rauner.–
LOL, you can’t be serious.
Don’t blame Rauner for the media not doing the heavy lift of budget reporting.
The reason that a $32K used car story is “news” is because it’s mindless fluff.
Real budget stories require a lot from both the media and consumers of the news.
Comment by wordslinger Wednesday, Feb 22, 17 @ 3:07 pm
For every middle class person earning $50,000, he or she had $1000 taken from their pockets for 4 years. In addition, they saw their already sky high real estate taxes increase.
$1000 a year that couldn’t be spent at restaurants, shopping centers, sporting events or given to charity. One person!
Comment by Piece of Work Wednesday, Feb 22, 17 @ 3:09 pm
== I get that there’s a “pension liability” but I’d love for someone to explain it to me. ==
What RNUG said, plus this: instead of taxing to pay for programs, the state has paid for programs by not putting in the proper pension payments. Instead of getting a second job, just put it on your credit card. The tax payers of Illinois have for years been receiving programs that they are not paying taxes to pay for, instead it is the pension system that has funded them.
Comment by facts are stubborn things Wednesday, Feb 22, 17 @ 3:12 pm
- Piece of Work -
So did state workers, and their good faith in the Constitution that their pensions are safe, that’s the ball game.
Rauner’s own budget is $4-7 billion out of whack.
You should ask Rauner how he expects to balance that grossly unbalanced budget, and the backlog of bills.
That Rauner Tax is coming. Right? Exactly right.
Comment by Oswego Willy Wednesday, Feb 22, 17 @ 3:13 pm
@ Piece of Work - Wednesday, Feb 22, 17 @ 3:09 pm:
You have been under taxed for years (except for the 4 years you indicated) receiving programs/services that taxpayers did not pay for. Instead of paying for programs and services, the taxpayers received…the pension fund was shorted year after year.
Comment by facts are stubborn things Wednesday, Feb 22, 17 @ 3:17 pm
Piece of Work - you hit the nail on the head. That additional $1,000 taken couldn’t have come at a worse time. We are/were one of those $50,000 households you spoke of.
Comment by Anon Wednesday, Feb 22, 17 @ 3:19 pm
772 Days since Rauner has presented a balanced budget.
Comment by Chicago Cynic Wednesday, Feb 22, 17 @ 3:24 pm
www.raunerbudget.com
Comment by Chicago Cynic Wednesday, Feb 22, 17 @ 3:24 pm
What happens if we all forget to pay our taxes? Let’s go play in the snow out west before the end.
Comment by Red rider Wednesday, Feb 22, 17 @ 3:42 pm
Facts, you seem to forget the high real estate taxes we all(at least property owners do)pay?
Ever check the itemized listing on that RE bill?
Ever check the gasoline taxes and sales taxes we pay?
Comment by Piece of Work Wednesday, Feb 22, 17 @ 4:14 pm
- Piece of Work -
How about that $12+ billion. You’re “look, a squirrel” attempt isn’t very… original.
Let’s focus. K? K.
Comment by Oswego Willy Wednesday, Feb 22, 17 @ 4:17 pm
Can you imagine having a credit card balance that is a quarter of your annual salary. I wish more news outlets could get that message across. I feel like average citizens get lost in the numbers.
Comment by Boone's is back Wednesday, Feb 22, 17 @ 4:27 pm
“The simple answer is the State paid in less than the actuarially calculated pension payments for most of the last 50 to 100 years, depending on what point you want to start counting from.”
If only we’d had a strong legislative leader over that past few decades; this never would have happened!
Comment by Liandro Wednesday, Feb 22, 17 @ 4:35 pm
I’m puzzled why state employees are vilified because they have a pension system. When they were hired and signed a contract, were they supposed to say, “No, I don’t want the pension, it’s not fair to taxpayers, I would just feel terrible. Take 8% of my salary and keep it, I couldn’t live with myself if I ever got anything in return.”
Comment by IllinoisBoi Wednesday, Feb 22, 17 @ 5:07 pm
Rich has it right. This isn’t just caused by the lack of a budget. The budget ain’t the holy grail. This deficit is caused by Illinois spending more then it takes in. Rauner has always said he would increase revenues if Madigan would agree to reforms. Everyone blaming Rauner for the absence of a BUDGET is an imbecile. The problem is overspending on programs we can’t afford
Comment by Sue Wednesday, Feb 22, 17 @ 6:09 pm
==Instead of paying for programs and services, the taxpayers received…the pension fund was shorted year after year.==
And larger raises were given to employees, more generous health benefits were offered, etc.
Comment by City Zen Wednesday, Feb 22, 17 @ 6:13 pm
RNUG, this may be what Blago called “a prizefight between accountants” but my view of the Edgar Ramp, as modified by Rod, provided a gradually increasing floor on pension contributions, albeit at below actuarial levels, and ensured funding wouldn’t get any worse. The underfunding, investment underperformance, three recessions, etc. all got “stacked” on top of the ramp. There was no will no where to reduce a dime of that debt because we had cooler things to spend our money on.
Comment by Arthur Andersen Wednesday, Feb 22, 17 @ 8:01 pm
-AA-,
You make a good point / expansion of my simplified explanation.
Comment by RNUG Wednesday, Feb 22, 17 @ 8:07 pm
If I am projecting the growth correctly, next week the unpaid bill backlog will pass $1,000 per person of state population.
Comment by titan Thursday, Feb 23, 17 @ 1:01 pm