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* Your thoughts on today’s budget address?

…Adding… Follow the instant updates on our live coverage post.

posted by Rich Miller
Wednesday, Feb 14, 18 @ 11:56 am

Comments

Only this: Illinois needs bipartisan pension reform and we need it 20 years ago. Please, leaders, figure something out and get it sent to the courts.

Comment by BlackHawk Boone Wednesday, Feb 14, 18 @ 12:00 pm
Madigan. Madigan. Madigan. That is all.

Sincerely,

Bruce Rauner

Comment by Smalls Wednesday, Feb 14, 18 @ 12:01 pm
Unbalanced.

And so is his budget.

– MrJM

Comment by @misterjayem Wednesday, Feb 14, 18 @ 12:02 pm
Baloney. On white bread. Hold the relish.

Comment by Henry Francis Wednesday, Feb 14, 18 @ 12:04 pm
Boone, there was extensive pension reform in 2010 that created Tier 2. Those hired after 2010 get meager pensions. You cannot reduce Tier 1 pensions per the Illinois Supreme Court. So stop with the empty rhetoric about pension reform. It’s like the mantra about eliminating fraud and waste.

Comment by Anonymous Wednesday, Feb 14, 18 @ 12:05 pm
LGDF should have been slashed 50%. DCEO practically eliminated. For starters.

Comment by Blue dog dem Wednesday, Feb 14, 18 @ 12:06 pm
Waiting for RNUG ?

Comment by Rutro Wednesday, Feb 14, 18 @ 12:07 pm
We had pension reform. They just need to pay it. State employees pension contributions kept taxes lower for years by legislators using that money for projects and programs. Time to pay the piper.

Comment by Crispycritter Wednesday, Feb 14, 18 @ 12:09 pm
“Broken, broken. All is broken.”

Comment by Dome Gnome Wednesday, Feb 14, 18 @ 12:11 pm
The G’s are droppin.’ This is just more of the same BS.

Comment by Ryan Wednesday, Feb 14, 18 @ 12:11 pm
And so begins this years attacks on unions.

Comment by Generic Drone Wednesday, Feb 14, 18 @ 12:13 pm
Pension “consideration” model is unconstitutional. It was yesterday, today and will be tomorrow.

Comment by Captain Ed Smith Wednesday, Feb 14, 18 @ 12:14 pm
Our reforms must begin with pension. Has anyone shown him the supreme court decision? It was all over the news.

Comment by PJ Wednesday, Feb 14, 18 @ 12:14 pm
His irrelevant excellency will regurgitate his tired unconstitutional, impossible fantasies from his delusional libertarian dreamworld. DOA. Next!

Comment by El Conquistador Wednesday, Feb 14, 18 @ 12:16 pm
Does anyone have a prepper site to buy survival stuff ? I’m hunkerin in the bunker for the next 8 months only to emerge when a brighter day for Illinois is on the horizon.

Comment by the Cardinal Wednesday, Feb 14, 18 @ 12:16 pm
LOL “[Costs are growing] faster than YOU (General Assembly) can raise taxes, or WE can grow the economy.”

Comment by Perrid Wednesday, Feb 14, 18 @ 12:16 pm
Can’t see 60 and 30 in this speech.

Taxpayers… understand who that is and isn’t targeting…

Labor… Rauner isn’t your ally or friend. Rauner is reminding you of this today. Rauner thinks he can fool you. It’s uo to you all to tell him otherwise.

Comment by Oswego Willy Wednesday, Feb 14, 18 @ 12:22 pm
Fourth verse, same as the first

Comment by Steve Rogers Wednesday, Feb 14, 18 @ 12:22 pm
Yes, sale of Thompson Center gives me bingo.

Comment by Henry Francis Wednesday, Feb 14, 18 @ 12:23 pm
I’m actually curious to see if the consideration model survives the ILSC. It seems like a diminishment to give an employee a raise but to not count that for their pension, but I don’t know.

Comment by Perrid Wednesday, Feb 14, 18 @ 12:27 pm
Sale of Thompson Center will allow IL to pay it’s Costco membership.

Comment by Norseman Wednesday, Feb 14, 18 @ 12:28 pm
He cited the decrease in IL university enrollment for the period 1991-2014. Unreal.

Comment by Henry Francis Wednesday, Feb 14, 18 @ 12:28 pm
Deja Vu all over again. But what I expected from someone who’s not in charge.

Comment by PublicServant Wednesday, Feb 14, 18 @ 12:28 pm
Leverage…

“Choose”

… hurt pensions and health insurance… or social services don’t get what they need.

Same Rauner, same hostage equation.

Comment by Oswego Willy Wednesday, Feb 14, 18 @ 12:30 pm
Mostly fluffy talk about balancing the budget by reigning in undue influence by unions. Superficial talk about supporting education by spending more (of which the extra spending will be in terms of tax incentives to invest in private education). Political rhetoric about cutting taxes and property taxes. In the end, a budget that actually doesn’t do much new, and overspends on the tried and false assumption that lowering taxes will produce the same revenues.

Comment by H-W Wednesday, Feb 14, 18 @ 12:31 pm
Typical Rauner speech. Cherry pick’n (dropped my g for Bruce’s readability) facts, history chang’n (lies) and obfuscation all geared to populate his propaganda brochure for re-election campaign.

Comment by Norseman Wednesday, Feb 14, 18 @ 12:32 pm
“Give me structural reform”… or we won’t get criminal justice reform?

Huh?

Comment by Oswego Willy Wednesday, Feb 14, 18 @ 12:34 pm
The Pritzker campaign Reality Checks have been well done. These should be used as targeted ads.

Comment by Anon221 Wednesday, Feb 14, 18 @ 12:35 pm
Bruce Rauner has yet to sign a budget.

Very, very, very little Rauner has touted was done with a Rauner budget, signed by Bruce Rauner. M

These statements are as phony as Rauner himself.

Comment by Oswego Willy Wednesday, Feb 14, 18 @ 12:37 pm
The shortfall by Rauner… was Rauner spending… that was not passed… he knows that, but…

Comment by Oswego Willy Wednesday, Feb 14, 18 @ 12:38 pm
it is not just that there are few applause lines, it’s that as he is speaking it sounds empty. as if there is no one there, or more likely, everyone is bored and unaccepting. as it should be as his speech is filled with ways to shuffle costs elsewhere, get people to accept health care that is not as good as what they have now, and g drops.

Comment by Amalia Wednesday, Feb 14, 18 @ 12:40 pm
Rauner wants tax cut… while using the tax increase for his own budget.

Warped thinking.

No wonder he hasn’t signed a budget. Rauner has no idea how the budget works.

Comment by Oswego Willy Wednesday, Feb 14, 18 @ 12:40 pm
As Senator Manar so eloquently Tweeted- Rauner was backing up on local taxpayers on pensions and healthcare cost shifts… beep, beep, beep.

Comment by Anon221 Wednesday, Feb 14, 18 @ 12:42 pm
New from K-tel, Bruce’s Greatest Hits. Look for it in stores (exclamation point).

On a serious note, I doubt the utility bill for the Springfield mansion ever reached $5000/yr., much less the $100,000 he claimed.

Comment by Jocko Wednesday, Feb 14, 18 @ 12:43 pm
Magic beans and pixie dust.

Comment by illini Wednesday, Feb 14, 18 @ 12:43 pm
Isn’t Heather Weir Vaught usually just to MJM’s right during these things? She wasn’t today.

Comment by Henry Francis Wednesday, Feb 14, 18 @ 12:43 pm
So… strip state employee healthcare and retirement benefits (4th year suggesting this), shift school funding costs back onto the districts themselves while calling for a freeze or reduction of property taxes (that math, though) and we need to cut taxes to bring in more revenue… somehow I feel like I’ve heard this speech before. Somewhere, some time… hm

Comment by Fixer Wednesday, Feb 14, 18 @ 12:47 pm
He’s still not in charge.

Comment by TKMH Wednesday, Feb 14, 18 @ 12:48 pm
OW. Will Representatives Bourne, Butler, Barickman Davidsmeyer et al., praise the budget address from the same Rauner campaign handout?

Comment by don the legend Wednesday, Feb 14, 18 @ 12:52 pm
–Only this: Illinois needs bipartisan pension reform and we need it 20 years ago. Please, leaders, figure something out and get it sent to the courts.–

That was SB1. And there was a unanimous Supreme Court decision that you can’t walk away from the debt already incurred.

Still people hitting on the pipe though.

Comment by wordslinger Wednesday, Feb 14, 18 @ 12:54 pm
== Only this: Illinois needs bipartisan pension reform and we need it 20 years ago. Please, leaders, figure something out and get it sent to the courts. ==

The reform already happened; it was Tier 2.

Can’t negate the existing pension debt, just need to pay the existing IOU to the pension funds … and welching on that debt is what all the so-called pension reform is about.

Comment by RNUG Wednesday, Feb 14, 18 @ 12:56 pm
- don the legend -

Rauner is fully funding the ILGOP.

The real question is will any member question Rauner’s phoniness, not if they will support Rauner’s thoughts.

They’re “all-in”, no matter how foolish they sound…

… they want to address where Rauner is lacking, like that spending over what was budgeted last year by the administration, that would be fun.

I don’t know until they speak.

Comment by Oswego Willy Wednesday, Feb 14, 18 @ 12:57 pm
Be a leader. Your were elected t lead. Instead u want to point fingers and rant on others. Lead. Please

Comment by Anonymous Wednesday, Feb 14, 18 @ 12:57 pm
So wait he said only a quarter of Illinoisans are on Medicaid.
Which is true but it’s not going to stay flat
As the healthcare markets collapse because the individual mandate is gone we’ll see that number go through the roof.
But he was entirely perfidious about state worker health insurance
The plans the majority of us have is Silver level. Illinois is one of only two states like that. 48 states have platinum level healthcare for their workforce.
Implementation of Rauners last best and final
Would drop all state employees to bronze level.
The exact same level as
Medicaid ACA level
Most private sector employees 75%
Acknowledged by Rauner
Have better insurance
Than Medicaid

Rauner would make our insurance
Medicaid equivalent
And make us pay
120% more for it
No private sector CEO
Could get away with that
He/she would lose their workforce
And
So will Rauner
If he succeeds
Challenge the lies
Rebuke the perfidy

Comment by Honeybear Wednesday, Feb 14, 18 @ 1:01 pm
If you want to shift the pension costs for future employees onto schools and universities, I think that makes sense, but pushing the mountain of debt that has piled up while the state failed to fund the pensions on to the schools seems unfair.

Comment by Perrid Wednesday, Feb 14, 18 @ 1:02 pm
Pineapple pineapple word jumble

Comment by Huh? Wednesday, Feb 14, 18 @ 1:03 pm
And I’m not sure where exactly Rauner got the “90% of employee healthcare premium is paid for by the State” number. That’s not the average, though it could be close to the split for employee only (no dependents) coverage for some of the plans. I think the overall average paid by the employee was something like 23% for FY 16 (don’t quote me on that), which actually has gone down over the life of the current contract, because the employee premium is fixed. So when the contract was first signed employees paid a higher percentage than they do now.

Comment by Perrid Wednesday, Feb 14, 18 @ 1:07 pm
Sigh …

Second verse, same as the first.

Seriously, any voluntary consideration pension “reform” will likely be found legal. But if it follows a couple of the different pending bills, it will not be a good deal for the employee. And the only ones who opt for it will be (a) short time political hacks who don’t plan to he around long enough to collect a pension anyway, (b) someone with a terminal illness and short life expectancy, or (c) someone who can’t add 2+2 and come up with 4.

Don’t count on any pension savings from the consideration pension “reform” proposal.

On the health insurance, Rauner can stick to the employees, their dependents, and retiree dependents. But he can’t do much to the retirees; the Kanerva ruling was crystal clear … and the Justice’s even opined about reduction of benefits. But if Rauner does try it, I would expect one or more of the retiree associations to immediately request any funds charged retirees be escrowed until the courts decide about it.

Comment by RNUG Wednesday, Feb 14, 18 @ 1:09 pm
Very low energy but it was his final speech
Failed to recognize karmier….oberweiss jumped to Dem side. Little applause.
Any body call over to the Mansion for the electric bills. That sounded like another “election nite phone call”

Comment by Annonin' Wednesday, Feb 14, 18 @ 1:09 pm
I also wonder why Intersect Illinois was not mentioned?
Could it be that the for-profit economic development company
Failed
And
Failed
And
Failed
Attracting hardly a single business to Illinois
Rauner
Gutted DCEO
Formed Imtersect by EO
So Rauners one, only, singular action
To stimulate jobs
And growth
Is now just gone and forgotten?

Comment by Honeybear Wednesday, Feb 14, 18 @ 1:12 pm
=Can’t negate the existing pension debt, just need to pay the existing IOU to the pension funds … and welching on that debt is what all the so-called pension reform is about.=

This seems so easy to understand and yet Governor Ivy League doesn’t get it. Maybe put it a patch his motor-biker costume?

=And I’m not sure where exactly Rauner got the “90% of employee healthcare premium is paid for by the State” number. =

I know those numbers are false for teachers. But that usually does not preclude Rauner from repeating them.

Comment by JS Mill Wednesday, Feb 14, 18 @ 1:12 pm
== Mostly fluffy talk about balancing the budget by reigning in undue influence by unions. ==

Rauner is making a bet he win the SCOTUS fair share case, and can piggyback on that to destroy the unions in half a year.

Don’t bother to bank those savings.

Comment by RNUG Wednesday, Feb 14, 18 @ 1:13 pm
Where was this for the last three years?

Comment by Anonymous Wednesday, Feb 14, 18 @ 1:16 pm
Same story different day. He doesn’t seem to understand budgeting. His ideas need the courts to back him up and that will not happen regarding pensions. I really believe that he lives in his own little world and is not aware of or interested in the issue facing our state.

Comment by Flynn's Mom Wednesday, Feb 14, 18 @ 1:16 pm
As Rauner worried and wrung his hands over “union job losses”, is like Labor to remember what Rauner himself, not anyone’s interpretation(s) were the goals of a second term.

1) Win Janus
2) Make RTW Zones
3) Defeat Af-Scammy
4) Hold the state hostage if he couldn’t get his way

Today’s speech, on a budget that weighs and measures priorities with dollars attached to words… Rauner again went after Labor, while pretending to be a “friend” to Labor.

Do not be fooled… again.

Comment by Oswego Willy Wednesday, Feb 14, 18 @ 1:17 pm
–Rauner is making a bet he win the SCOTUS fair share case, and can piggyback on that to destroy the unions in half a year.–

And both those things could happen, and the already incurred pension liability would not be reduced by a penny.

The state and federal constitutions protections are unbreakable.

But grifters gonna grift….

Comment by wordslinger Wednesday, Feb 14, 18 @ 1:17 pm
I couldn’t see madigan nodding

Comment by Rabid Wednesday, Feb 14, 18 @ 1:18 pm
Couldn’t we have just read last year’s speech? Would that have saved the state some money?

Comment by Cheryl44 Wednesday, Feb 14, 18 @ 1:18 pm
When will someone, anyone be brave enough to say: I will spend every penny we take in but not a penny more, and then do it.

Comment by striketoo Wednesday, Feb 14, 18 @ 1:20 pm
==Any body call over to the Mansion for the electric bills. That sounded like another “election nite phone call”==

Can offer some info - before Rauner, all mansion invoices were processed by the gov’s fiscal office staff. Rauner shut this office and laid everyone off when he took over, and afterwards all Gov invoices were processed by Leslie mungers people at the comptroller (why they thought this was a good idea, idk). Presumably other arrangements were made after Mendoza beat munger. Maybe he and his people dont know who pays their bills? That might explain why he said took two weeks to find, maybe also why his people spent all that money that the GA never appropriated.

Also anecdotal, but a buddy of mine at CWLP says the mansion electric bills were never $100K per year, more like $25-$30K. Still a huge amount, I don’t see the need to exaggerate that number but that’s kind of what Bruce does.

Comment by Lester Holt’s Mustache Wednesday, Feb 14, 18 @ 1:21 pm
Here is a pension reform we haven’t tried yet, RNUG:

What if we rolled back the privatization of state services and made those all union jobs again at the Tier 2 level?

Also, I would not bet on fair share destroying AFSCME. Rauner has created some serious solidarity.

Comment by Thomas Paine Wednesday, Feb 14, 18 @ 1:22 pm
Same theme he’s had for 3 years now. He doesn’t seem to grasp the word no.

Comment by Demoralized Wednesday, Feb 14, 18 @ 1:22 pm
JS Mill the 90% is wrong because it would only be correct if you added in the cost of the service provided.
The state does not pay 90% of my premium
I actually pay more now than my last private sector job.
Total falsehood.

Rauners numbers people are

Comment by Honeybear Wednesday, Feb 14, 18 @ 1:27 pm
More nonsense from the CEO. Back to he pension robbery-fix again. Wish these clueless rich guys would find another hobby besides Governor, and I’m including The Pillsbury Doughboy and Mr Ed too..

Comment by Mouthy Wednesday, Feb 14, 18 @ 1:33 pm
—and Mr Ed too—

That’s cold, but funny.

Comment by sonny chiss Wednesday, Feb 14, 18 @ 1:41 pm
With proposals like these, Rauner would have fit in perfectly in the late 19th century Robber Baron era.

Comment by RNUG Wednesday, Feb 14, 18 @ 1:42 pm
Just more words. Even Rauner knows this is all going no where. He doesn’t even listen to himself. You can not simply punish one group to benefit another. Sooner or later the benefiting group becomes the new sacrificial lamb.

Comment by Retired Educator Wednesday, Feb 14, 18 @ 1:42 pm
Maybe Bruce…

… and Diana Rauner, (cited by the governor)…

… can show those utility bills, and I’ll grant him heat, (maybe) water, (for fun) and get all those to total $100,000.00

You’d think that bill or total would be readily available, you know, as a prop, Rauner loves a good prop.

Diana and Bruce were stunned.

They should stun us all. Show that stunning total.

They could be right.

Comment by Oswego Willy Wednesday, Feb 14, 18 @ 1:44 pm
== What if we rolled back the privatization of state services and made those all union jobs again at the Tier 2 level? ==

At least you would have more money going into the pension funds than liabilities accuring.

But it will never happen; the fourth rail of politics is pinstripe patronage.

Comment by RNUG Wednesday, Feb 14, 18 @ 1:45 pm
–Just more words.–

Actually, just more lies.

Which will lead to the campaign lines of “I proposed a budget that was not only balanced, but had a surplus.”

It doesn’t stand up to a minute’s scrutiny, but what’s left of his internal/external propaganda machine will flog it.

Comment by wordslinger Wednesday, Feb 14, 18 @ 1:46 pm
Not a whiff of how we can invest in the state (through education, infrastructure, etc.) in order to grow.

At this point I’d settle for being governed by Minnesota.

Comment by Anonymous Wednesday, Feb 14, 18 @ 1:51 pm
Oops, comment at 1:51 was moi.

Comment by Blue Bayou Wednesday, Feb 14, 18 @ 1:52 pm
For those keepin’ score
http://www.chicagotribune.com/news/opinion/zorn/ct-time-to-be-retirin-the-folksymeter-20180214-story.html

Comment by Eric Zorn Wednesday, Feb 14, 18 @ 2:10 pm
His line about IBHE developing a new strategic plan is news to the staff at IBHE.

Comment by Anonymous Wednesday, Feb 14, 18 @ 2:16 pm
I can’t wait until Civic Federation, Politifact and others put their numbers guys on this “balanced budget.” I sense a third budget “pants on fire” is in the offing. So much of this is just so phony and won’t hold up to even the gentlest scrutiny.

Comment by Chicago Cynic Wednesday, Feb 14, 18 @ 2:21 pm
Thanks Eric Zorn. I thought his G droppin’ was way down.

Comment by Chicago Cynic Wednesday, Feb 14, 18 @ 2:24 pm
I wonder how come someone isnt begging the federales for help. Speaking of help,any one.notice Trump at least contemplating trying to save Granite City? Hes done more.in a year rhan BO did in 8.

Comment by Blue dog dem Wednesday, Feb 14, 18 @ 2:32 pm
I know, I know. States can’t declare bankruptcy. So, when Illinois ultimately fails to meet its obligations, the subject will have to be given another name. Budgets, schmugets, and set aside partisan bickering, this isn’t going to end well.

Comment by Keyser Soze Wednesday, Feb 14, 18 @ 2:53 pm
Rauner appears to want to begin shifting some of the cost of downstate teacher pensions away from the state and onto local school districts. That appears to me a move that will be followed by property tax increases by school districts.

In the Rauner Illinois ‘turnaround’ plan one of the main points was a property tax freeze to help home owners. I wonder if Rauner abandoned his election campaign pledge to the property tax payers of Illinois to at least hold the line on?

Comment by Small town taxpayer Wednesday, Feb 14, 18 @ 2:55 pm
–Trump at least contemplating trying to save Granite City? Hes done more.in a year rhan BO did in 8.–

He’s “contemplating” “saving” is he? Sounds like a messiah complex. Too bad he never bought any U.S. steel for his buildings.

He’s also set to nearly double the amount of federal borrowing this year — one trillion dollars — at a time of 2.6% growth and 4.1% unemployment.

You must be one of those Rauner fiscal conservatives and phony “Buy American” types.

https://www.washingtonpost.com/news/wonk/wp/2018/02/03/the-u-s-government-is-set-to-borrow-nearly-1-trillion-this-year/?utm_term=.ad483977aacb

http://thehill.com/policy/finance/299293-steelworkers-livid-over-report-trump-bought-chinese-steel-aluminum

Comment by wordslinger Wednesday, Feb 14, 18 @ 3:00 pm
Bruce does much better at budgeting and balancing things on the back porch of the mansion than he does under the dome. I wonder why that is?

Comment by don the legend Wednesday, Feb 14, 18 @ 3:04 pm
I do believe the Trumpster represents the working man. It’s a new era. The heck with that old fiscal conservative label. I am gonna join that progressive movement. Free everything.

Comment by Blue dog dem Wednesday, Feb 14, 18 @ 3:19 pm
Freem

Comment by Honeybear Wednesday, Feb 14, 18 @ 3:57 pm
What the heck…..free

Comment by Honeybear Wednesday, Feb 14, 18 @ 3:58 pm
What happened to the idea to issue bonds at a lower interest rate to pay off pension debt that is at a higher interest rate? Is he waiting for the bond rates to get even higher?

Comment by DuPage Wednesday, Feb 14, 18 @ 4:09 pm
I don’t know about the rest of you, but I preferred the election year tax cut stunt when Quinn was going to send us all a check.

Comment by Juice Wednesday, Feb 14, 18 @ 4:32 pm
== What happened to the idea to issue bonds at a lower interest rate to pay off pension debt that is at a higher interest rate? Is he waiting for the bond rates to get even higher? ==

You can’t write an IOU to the bond holders like you can the pension funds when things get tight.

Whether we like it or not, the State’s method of managing cash shortfalls is to short the pension payments, short the school districts, delay both Medicaid and state health insurance payments, and drag out repayment on outstanding purchases and debt.

If you bond out the pension debt, you HAVE to make those payments on time with cadh on the barrel head. Never going to happen.

Comment by RNUG Wednesday, Feb 14, 18 @ 4:37 pm
–If you bond out the pension debt, you HAVE to make those payments on time with cadh on the barrel head. Never going to happen.–

True. And the cost for the state (and everyone else) to float bonds will be higher this year with the federales nearly doubling its borrowing.

The more paper on the market, the higher the cost.

Comment by wordslinger Wednesday, Feb 14, 18 @ 4:41 pm
Cadh … Cash … something like that

Comment by RNUG Wednesday, Feb 14, 18 @ 4:44 pm
–I do believe the Trumpster represents the working man–

Absolutely. The working men, women and children, of China, Bangladesh, Thailand, Singapore… he’s been a big “job creator” overseas.

But I can see why you’d love a phony.

https://www.washingtonpost.com/news/politics/wp/2017/04/18/the-many-ways-in-which-trumps-buy-american-mantra-is-hypocritical/?utm_term=.6e99008ca92b

Comment by wordslinger Wednesday, Feb 14, 18 @ 6:25 pm
So I double checked employer/employee split, and the range for the employee’s part of the premium was from 7.41% (HealthLink OAP for employees making $30,200 or less) to 25.72% (blueAdvantage HMO for employees making more than $100,000). Both of those is employee only, dependent coverage is between those two extremes. Without knowing how many employees are in each plan I can’t get an average, but my 23% was high, almost as high as the Guv was low. This is evidently what I do in my free time.

Comment by Perrid Wednesday, Feb 14, 18 @ 7:03 pm
Rauner has the gall to laud Wisconsin for creating 50,000 union jobs, but his end game is to destroy labor in Illinois. As OW stated, ….Do not be fooled… again.

Comment by XDNR Wednesday, Feb 14, 18 @ 7:18 pm
As far as the bonds to “reduce” pension debt, along with the spot-on points made by RNUG and word, it’s a lousy time to invest a staggering sum in the markets right now. The pension funds are of course diversified beyond US stocks and bonds, but real estate (institutional quality) is priced high as well, private equity is difficult, international stocks and bonds are highly volatile, and hedge funds are just a bad idea.

The prime proponent of the 2004 POB, former budget director Filan, is also opposed this time. His interview with Greg Hinz is a good read for folks interested in this topic.

Comment by Arthur Andersen Wednesday, Feb 14, 18 @ 8:24 pm
shifting the burden to property tax owners, will enrich the tax appeal lawyers

Comment by Rabid Thursday, Feb 15, 18 @ 6:58 am