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* I told you over the weekend about Senate President Don Harmon’s letter to the state’s congressional delegation. The Sun-Times editorial board let him have it…
Harmon has proposed that about a quarter of the new money for Illinois, $10 billion, be used to bail out our state government’s cash-strapped retirement systems — a problem not even remotely related to COVID-19.
How Harmon thought to justify this “ask” — let alone put it in writing to be picked up in publications including the New York Times, Forbes and our own Sun-Times — is beyond us.
Illinois’ $138 billion unfunded pension liability has been years — make that decades — in the making. Springfield lawmakers since before the Beatles have been expanding employee retirement benefits without putting aside enough money to pay for them.
At best, Harmon’s pension ask is politically clueless.
At worst, it will serve to explode efforts at bipartisanship in Washington as our nation struggles to recover from the pandemic. You can almost see congressional Republicans waving Harmon’s letter in the air and saying: “See, we told you. Blue states like Illinois are just being greedy. They want us to bail them out of problems of their own making, created over decades. Why should we help them?”
* I’ve seen just one supportive commentary and it was in Politico Illinois…
The criticism seems harsh given the state’s pension debt is $100 billion-plus and Illinois is only halfway through a 50-year payment plan — $10 billion is roughly one year’s full payment to the pension systems.
On top of that, Illinois’ revenue will be down, expenditures will be up, and its stock market holdings are probably taking a beating. So is anyone all that surprised by a hail Mary pass?
* My own take from Saturday…
For those who might say “It never hurts to ask,” yes, it can hurt to ask.
Remember how Republican US Sen. Tom Cotton used just that sort of argument to try and kill federal aid to state and local governments last month?…
Dick Durbin represents one of the most bankrupt states in America and the most bankrupt city, Chicago, in America behind those closed doors. They are demanding straight cash bailouts for states and cities that have been fiscally irresponsible for years.
There is a certain strain of wonky politicians who try to “start conversations” without first pausing to ask themselves if publicly sharing those ideas could hurt their own causes.
Illinois created this problem. It’s Illinois’ responsibility to solve it, not the federal government’s. This letter could even hurt all other states’ attempts to convince Congress and the president to back an aid package.
* I asked Harmon’s spokesperson yesterday if the Senate President stands by his letter. “Yes,” was the answer.
So, I’m curious what you think.
* The Question: Should Senate President Harmon retract his pension bailout request? Take the poll and then explain your answer in comments, please…
posted by Rich Miller
Monday, Apr 20, 20 @ 11:13 am
Sorry, comments are closed at this time.
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I voted NO. The Feds have the checkbook open. Maybe we can even expand it and base it on a bipartisan plan, approved by the employees, to switch over to a 401k style retirement plan and end this nightmare for good.
Comment by CookR Monday, Apr 20, 20 @ 11:20 am
I voted yes. As big of a problem as it is, at this time it falls into the “everyone has their own priorities” category.
Comment by Ron Burgundy Monday, Apr 20, 20 @ 11:22 am
As someone who generally likes Harmon, this is why he’s made for local and not federal politics. It’s naive and silly. Illinois has to fix the problems that existed prior to COVID, and we’re only harming our case by throwing this against the wall.
I’d feel the same way about a state like Kansas that essentially bankrupted itself by going full libertarian laboratory experiment. Bailouts are for act of god situations, not to get a mulligan on your own bad choices.
Comment by PJ Monday, Apr 20, 20 @ 11:24 am
Voted yes. It was a completely tone deaf request.
== Illinois’ $138 billion unfunded pension liability has been years — make that decades — in the making. ==
It’s around a century of underfunding now …
Comment by RNUG Monday, Apr 20, 20 @ 11:26 am
I vote no - he truly believes that fixing Illinois decades-old unfunded pension problems is a proper use of Federal Pandemic relief funds. Let the record forever show that.
Comment by Donnie Elgin Monday, Apr 20, 20 @ 11:26 am
Yes. This is a problem entirely of the state’s making and the state and state alone are responsible for fixing it. If anything the COVID-19 crisis underscores that. Our pension crisis overshadows our ability to address all kinds of issues and keeps us for adequately funding other areas of government.
Comment by Pundent Monday, Apr 20, 20 @ 11:26 am
I voted no because any damage to come from it likely can’t be un-done.
You can’t un-ring that bell.
– MrJM
Comment by @misterjayem Monday, Apr 20, 20 @ 11:26 am
I voted yes. Gotta play the long game here: the coming economic crisis is going to tank plenty of other state budgets, including a few red states. Save your shot for a bipartisan state bailout a few months from now.
Comment by Sterling Monday, Apr 20, 20 @ 11:27 am
I voted yes. I think the Sun Times editorial was worded quite well.
Comment by Cornerfield Monday, Apr 20, 20 @ 11:29 am
I voted yes. This letter is just another blatant attempt to gain relevance in a situation where you are so clearly irrelevant. Maybe Harmon and his gang of white dudes should have thought past getting their names in the NYT and thought through the politics of this and what it means for the state. This kind of rookie mistake is just so easily avoided if you worry about how to actually be helpful instead of headlines. It’s ok, learning will take time. I just hope they don’t harm the state’s chances as they learn what their role is here.
Comment by Mediocrity strikes back Monday, Apr 20, 20 @ 11:29 am
The math is the math. We are in this deep hole largely because of leadership that ignored inconvenient truths. The pension hole is so large and growing — especially now that we’re in a recession — that the 11 million Americans who live in Illinois need federal assistance.
We can all pretend we don’t.
We can all pretend the pension debt will somehow go away.
But kudos to President Harmon for acknowledging the truth of the matter.
And for those people who like to crusade against *improving our state’s fiscal condition* from using *our* federal taxes — hey, congratulations! Nice job making sure we will all be worse off! At least it made you feel righteous.
Comment by Dan Johnson Monday, Apr 20, 20 @ 11:31 am
I agree with Sterling. I think that it’s fair to say that the lost revenue is going to hit several states hard, but right now is not the time to focus on requests that aren’t directly related to COVID-19. Sending that request too early just resulted in easy fodder from congressional Republicans (especially those who represent states without many expenditures…or who don’t care about massive holes in their budgets).
Comment by NIU Grad Monday, Apr 20, 20 @ 11:32 am
While Rush, Beck and other whack jobs are waving the letter in the air (in a virtual sense) it doesn’t serve a any good to back track now. It does arm the whacks, but no one really listens to them any more. If they did the Champaign News Gazette would be publishing.
Comment by Annonin Monday, Apr 20, 20 @ 11:34 am
No, for the reasons MrJM stated. That, and the small possibility that he is proven right, that the federalization of state debt (all 50 states plus PR), is the best way for the federal government to backstop the economy.
We’re throwing trillions at investors. I don’t think Harmon’s request is unreasonable given the unprecedented federal financial commitments.
Comment by 47th Ward Monday, Apr 20, 20 @ 11:34 am
Dumb. Dumber. Dumbest. Did Harmon really think Washington would take him seriously?
Comment by Wylie Coyote Monday, Apr 20, 20 @ 11:35 am
“We’re throwing trillions at investors”
Some of the biggest investors are the State Pension Funds.
Comment by Donnie Elgin Monday, Apr 20, 20 @ 11:36 am
Voted Yes. As RNUG said, a tone deaf request.
Comment by SSL Monday, Apr 20, 20 @ 11:37 am
I voted no and, after an initially negative reaction to his letter, I’ve reconsidered.
EVERY state in this country has major unmet needs and deficiencies that require redress. In IL, it happens to be pensions. In AL, it may be terrible schools. In FL, whether their governor admits it or not, it is preparing the low-lying state for higher sea levels as a result of global warming.
For too long, there’s been disinvestment in the American people, while boodles of cash have been shoveled to the wealthiest individuals and corporations. It’s made us weak and vulnerable.
So, sure we messed up with pension under-funding. Every state has messed up or needs assistance to deal with a problem bigger than it is. That’s why we have a federal government.
I know the Protestant Ethic and the need to punish is a strong part of American culture. But, we’re only hurting ourselves if we leave states, small businesses, and individuals hobbled by their debts.
This is a chance to start over. In olden times, they had debt jubilees. This is not a new problem. If there is a will to do it, I’m sure we can find a modern way to do something similar - that comes with conditions and accountability.
Comment by Moe Berg Monday, Apr 20, 20 @ 11:37 am
=== Bailouts are for act of god situations===
Explain what halted the state’s revenues. Geez Louise, it appeared you’re cheering for destruction but dismiss a global pandemic as a garden variety budget crunch.
You were doing so well before the mouth breathing.
To the Post,
All that chiding above, I voted “Yes”. Here’s why;
It’s one of those rare occasions that we find a wholly ignorant statement, unhelping to Illinois, as this one by President Harmon not understanding or reading the room in the moment.
This is like the “yang” to the “ying” of those, right now, foaming at the mouth hoping for the demise of Illinois… because hurting the state is… well, like President Harmon’s ridiculousness too… their priority.
“Everyone has their priorities”
This letter does nothing to move the ball in any thoughtful or budgetary way, this letter is disguised as a “fiscal tabulation”, but it’s tabulating an agenda first, not the needs of Illinois in this current situation.
Amateurs do this. They write letters, and this goes to the IPI/Wirepoints zealots on the other side here, that try and manipulate the words to seem thoughtful to real challenges, but reading words you find the “priorities” have more weight than the necessities.
Someone shoulda tackled the person who signed off on this, if President Harmon ran it past anyone, and tackled the person who felt the need to send it out, knowing full well a letter like this isn’t a good look with that pension paragraph attached.
This is a time for serious people to say and do and choose in serious ways.
That paragraph is something priority folks write. It’s disappointing.
I voted “Yes”
Comment by Oswego Willy Monday, Apr 20, 20 @ 11:37 am
It does need to be clarified, however, that since the pension funds have been shorted for practically a hundred years now, excessive new promises without paying for them is not the reason for the deficit. How does one explain underfunding 50 years ago without those so called extras? It’s just an easy pot to short in order to pay for other things. So they have.
Comment by Ano Monday, Apr 20, 20 @ 11:38 am
Bad timing spoils nearly everything.
Moves made alone… often leave one alone.
Comment by Dotnonymous Monday, Apr 20, 20 @ 11:39 am
I voted yes mainly because I am at the point where I detest the Rahm Emanuel philosophy of “let no crisis go to waste” which is exactly what I believe motivated the Senate President to send the letter. “Hey, the worst that can happen is that they say ‘no’, right?”
Actually, no, that isn’t the worst that can happen.
I like and respect the Senate President. He is entitled to make errors, sometimes unforced. I just hope he learns from this and it makes him a better leader in the future.
Comment by Colin O'Scopy Monday, Apr 20, 20 @ 11:39 am
Tone deaf idea.
Comment by Back to the Future Monday, Apr 20, 20 @ 11:40 am
Voted yes. This is a distraction that plays into the hands of republicans. This is poor form from the rookie senate pres. Let’s hope he learns from this misstep.
Comment by Shytown Monday, Apr 20, 20 @ 11:40 am
Don who?
Comment by Commonsense in Illinois Monday, Apr 20, 20 @ 11:41 am
Harmon is right to see if the state can use the funds for the state’s annual pension payment. COVID is blowing a hole in the state’s budget and pension payments are part of that budget.
But, it was totally clueless to put that in writing.
Comment by Funtimes Monday, Apr 20, 20 @ 11:43 am
I voted no.
It was probably not a good idea to make this request, for the reasons others have said. But having done so, he’s already locked in the political price to be paid; retracting now won’t get him out of the doghouse. At least he’s put down a marker if there’s a state/municipal bailout by the feds, as unlikely as that is.
Comment by Benjamin Monday, Apr 20, 20 @ 11:51 am
Yes he certainly should. But I do not think it will help him (or the state) much. To use some overworked metaphors that I think are often overworked but seem wholly appropriate here: By opening the kimono he let the cat out of the bag. Also, “The first rule about fight club is: Don’t talk about Fight Club”.
Comment by Responsa Monday, Apr 20, 20 @ 11:53 am
No the political damage is already accomplished. Sen Harmon is a bright individual, why he would take it upon himself, with no apparent discussion with our congressional representatives - Democrats and Republicans, and espically the Governor, to represent Illinois, is baffling. Very presumptuous, there is a process and consensus. All this end-run accomplished was to feed the right-wing more fuel for their anti-Illinois rhetoric.
Comment by Professor Monday, Apr 20, 20 @ 11:54 am
“Don’t Make No Waves, Don’t Back No Losers” should have been Harmon’s guiding principle here. I understand the concern, but this NOT what I want national attention for. Amateur move that should have been run by a few people prior to sending. First one’s free, Don.
Comment by Now What? Monday, Apr 20, 20 @ 11:54 am
I voted no. No point in retracting, but some additional explanation and context might make sense. There was nothing wrong with 98% of the letter.
Comment by Southern Skeptic Monday, Apr 20, 20 @ 11:54 am
Voted no only because technically he can’t “retract” it. To do anything other than stand by it would only exacerbate the P.R. hit. I’d like to think the thought process was “ask for everything so that something short of everything is still meaningful.” But Rich is right, that can backfire in a hurry.
Comment by Eloy Monday, Apr 20, 20 @ 11:57 am
This may make me sound like a hypocrite to my kids, but in this case I do believe it hurts to ask. In this hyperpartisan era, every word is seen as possible ammunition to use against an opponent. We’re not going to get the money, but the ask will be portrayed as what’s wrong with Blue states.
Comment by Norseman Monday, Apr 20, 20 @ 11:58 am
We all know with what the road to hell is paved…
Agree that any perceived harm cannot be undone. So stay the course. Stand your ground. Leadership many times is a lonely perch.
Good for Harmon, eschewing convention in unconventional times.
Comment by Heavy is the Crown... Monday, Apr 20, 20 @ 11:59 am
Voted “no”. I completely agree with 47th Ward, it’s not an unreasonable request- because Harmon is asking for repairs to damage done specifically by the COVID driven economic downturn.
Comment by West Sider Monday, Apr 20, 20 @ 12:01 pm
I voted yes. retraction doesn’t take it out of the public record, it shows a reconsideration of the main premise for the request.
some level of state aid to assist with costs relating to COVID-19 is needed; leave it to states after that how the $$ is divvied up within its borders, under premise that states know their own needs best
Comment by WeAreAVillage Monday, Apr 20, 20 @ 12:02 pm
==while boodles of cash have been shoveled to the wealthiest individuals and corporations.==
The same corporations the state pension systems invest in.
Comment by City Zen Monday, Apr 20, 20 @ 12:10 pm
I wanted to vote “mu” but that’s never a realistic option so went with “no”. Perhaps Harmon should go all in. Aid to the states that is only allowed to be put into the stock market is not unlike capping the SALT deduction in a tax cut package.
Comment by Earnest Monday, Apr 20, 20 @ 12:11 pm
Yes. Shouldn’t any request to the Federal government be coming from the Governor? If he had suggestions, shouldn’t he have made them to Pritzker. Did he expect the Feds to pick some items from his letter and some from the Governor’s? Even if the President were a Democrat, I don’t see that as likely.
Comment by Rasselas Monday, Apr 20, 20 @ 12:13 pm
I voted NO.
47th Ward and Moe Berg lay it all out clearly.
Many states’ solutions to their large scale, long term problems (elementary education, climate change, pension reform) have been disrupted or destroyed by the current pandemic. Asking for help from our federal government is okay.
Comment by Scott Cross for President Monday, Apr 20, 20 @ 12:15 pm
==This is poor form from the rookie senate pres. Let’s hope he learns from this misstep.==
Are you open to the possibility that this letter was suggested to Harmon by one or more members of the IL congressional delegation and Harmon was too new/naive to say no?
Comment by Responsa Monday, Apr 20, 20 @ 12:22 pm
C’mon man - you don’t say the quiet part out loud AND…
-You can’t un-ring that bell.-
-MrJM
Comment by MakePoliticsCoolAgain Monday, Apr 20, 20 @ 12:24 pm
I voted no. I’m not for a bailout for Illinois but I understand Harmon’s situation. You can’t get somewhere without asking. It’s just a beginning. Someday Democrats will control the White House , the Senate , and the House and Harmon might just get the Illinois bailout he’s asking for.
Comment by Steve Monday, Apr 20, 20 @ 12:24 pm
I voted yes. It’s a special request that should not be granted when the country and states are in such a financial crisis.
But spare the fake outrage over the idea of giving Illinois money to bail out pensions. We are giving billions of dollars in Republican tax cuts to those who are already super-rich and don’t need them.
Comment by Grandson of Man Monday, Apr 20, 20 @ 12:27 pm
At this point it seems too late. The request and letter were a bad idea. If he retracts it now he’s just going to perpetuate the story.
Comment by Boone's is Back Monday, Apr 20, 20 @ 12:27 pm
voted no. right or wrong, you can’t put the toothpaste back in the tube.
Comment by 32nd warder Monday, Apr 20, 20 @ 12:30 pm
I voted yes but want to change to no after reading Mister JM.
Comment by Original Rambler Monday, Apr 20, 20 @ 12:39 pm
I voted yes. However, strategically, it may be too late ==If he retracts it now he’s just going to perpetuate the story== in which case he should just let it go.
Comment by RWP Monday, Apr 20, 20 @ 12:51 pm
I voted yes. Illinois created its pension problem, and Illinois needs to fix it. If the pensions was well funded, this would have very little long term effect. We need to stop looking for easy solutions and start making the hard choices that are necessary.
In addition, with the way the federal budget is bleeding money, we need to focus on keeping that under control. If we don’t start taking our massive federal deficit spending seriously, the entire country will find itself in the situation Illinois is in within the next 25 years. I’d rather not see that happen.
Comment by Pelonski Monday, Apr 20, 20 @ 12:53 pm
=== with the way the federal budget is bleeding money, we need to focus on keeping that under control. If we don’t start taking our massive federal deficit spending seriously, the entire country will find itself in the situation Illinois is in within the next 25 years. I’d rather not see that happen.===
Explain the Trumpkin Tax Cuts.
=== If the pensions was well funded, this would have very little long term effect. We need to stop looking for easy solutions…===
Explain a global pandemic that is usurping so much of the needed tax revenues.
Your vote may be thoughtful, how you got there is confusing, unless IPI and Wirepoints are your thoughtful touchstone.
“Everyone has their priorities”, choosing to be yes for another priority is the other side of the same coin.
Comment by Oswego Willy Monday, Apr 20, 20 @ 12:59 pm
No, because as far as expenditures go, this is a big one for our state that can’t be paid right now because we needed to shut down the economy.
Comment by Biker Monday, Apr 20, 20 @ 1:18 pm
It’s typically impossible to engage in a real discussion with you, Willy, but I’ll give it one try:
1) The Trump tax cuts were a terrible idea. I’d prefer that they be repealed and replaced with higher rates primarily on high income earners and high wealth individuals. Treating the federal budget as a blank checkbook makes the damage created by Trump worse, not better.
2) Like with the Great Depression, Great Recession, and countless other economic downturns, the economy will recover and eventually be doing better than it was before. A properly funded and managed investment program builds in the possibility of major downturns and sets the assets accordingly. I’m not sure why the rest of the country should be responsible for our past failures to adequately fund our pension.
3) I’m not sure why you would think IPI and Wirepoints have anything to do with my thoughts. The last time I checked, those were anti-tax groups, not true budget responsibility groups. I’m in the higher taxes and reduced government spending group. We have lots of open chairs at our meetings.
Comment by Pelonski Monday, Apr 20, 20 @ 1:20 pm
=== typically impossible to engage in a real discussion===
That’s a fine start. Glad you’re being the bigger person.
1) === the way the federal budget is bleeding money, we need to focus on keeping that under control. If we don’t start taking our massive federal deficit spending seriously===
You?
=== The Trump tax cuts were a terrible idea. I’d prefer that they be repealed and replaced with higher rates primarily on high income earners and high wealth individuals. Treating the federal budget as a blank checkbook…===
You’re arguing with yourself. It’s bleeding, because of tax cuts you don’t agree with, but your concern for that federal response, even here in Illinois, will be part and parcel of the problem, and that’s not part of the Harmon ask, as bad as it is.
2) === A properly funded and managed investment program builds in the possibility of major downturns and sets the assets accordingly. I’m not sure why the rest of the country should be responsible for our past failures to adequately fund our pension.===
The Edgar Ramp and other choices we *did* have, those choices are not on the table due to a crisis, a global crisis where Oil is now trading below $2. a barrel. If you ignore mitigating factors, that is a Wirepoints or IPI talking point, never taking into consideration factors, let alone something this dire, and the impact of the global pandemic and the constitutional responsibilities.
3) Both thoughts revolve around two important things these implodes like: Bankruptcy due to insolvency and let things burn, and mitigating factors now aren’t a reason for pause but a reason to accelerate *their* priorities.
You may not realize that it matches, but it matches all the same.
And you thought it would be impossible to engage.
I still believe in my “Yes” vote.
Comment by Oswego Willy Monday, Apr 20, 20 @ 1:31 pm
Illinois pays more in federal income tax than we get back in federal spending in most years.
We bail out Alabama and Mississippi every year. Asking for $10 billion to stabilize the pension fund isn’t inappropriate and frankly the ask should be larger.
Comment by Candy Dogood Monday, Apr 20, 20 @ 1:46 pm
I voted no. President Harmon shouldn’t retract his position because of what some “conservatives” somewhere will argue.
Does Senator Cotton really have any credibility on fiscal responsibility from a state that has one of the highest per capita welfare recipients? Does he have any credibility after voting in favor of a trillion dollar giveaway to the super wealthy and corporations without paying for it?
President Harmon seems to be thinking beyond tomorrow. COVID-19 will impact our ability to pay our pensions and the problem needs to be addressed.
As far as this being just Illinois’ problem, since when did America do well when one of its states is harmed? Last I checked, we are all in this together.
Comment by MG85 Monday, Apr 20, 20 @ 1:48 pm
==Illinois pays more in federal income tax than we get back in federal spending in most years.==
How many municipalities pay more in state income tax than they get back in state spending?
Comment by City Zen Monday, Apr 20, 20 @ 2:06 pm
“They are demanding straight cash bailouts for states and cities“
Trump bailed out many farmers who brought hardship on themselves by voting for him, and who accept the self-inflicted pain and are voting for him again. Where was the outrage from Republicans and right wingers in giving free money to those who made a poor choice and brought it on themselves?
Comment by Grandson of Man Monday, Apr 20, 20 @ 2:16 pm
City Zen, you post with enough frequency I find it hard to believe that you missed the posts Rich made about counties that are not beneficiaries from State government outlays vs revenues paid.
So most of them get back more than they send the State in revenues.
You got a specific one in mind? I’d be happy to look it up — but unless it’s in Cook or one of the collar counties they’re a net beneficiary from state government spending.
Comment by Candy Dogood Monday, Apr 20, 20 @ 2:25 pm
===How many municipalities pay more in state income tax than they get back===
Pretty much all of them Downstate.
Comment by Rich Miller Monday, Apr 20, 20 @ 2:25 pm
Grandson of Man, they also elected which crops to plant knowing that there was a trade war impacting one of the biggest buyers.
Comment by Candy Dogood Monday, Apr 20, 20 @ 2:28 pm
Voted no as the bell cannot be unrung. But uncharacteristically disappointed in this foot fault by Harmon
Comment by WH Mess Monday, Apr 20, 20 @ 2:55 pm
Candy - Your IL/MS example applies to Oak Brook/Maywood or Burr Ridge/Harvey as well. Do you have a problem with those towns being a net-giver, just like IL? I’m sure their property taxes would decrease significantly if they could keep all the state income tax revenue their residents generate local.
If you have a problem with this at the national level, then you should have a problem at the state level too.
Comment by City Zen Monday, Apr 20, 20 @ 3:17 pm
No, for the same bell reasoning applied by Mr. JayEm and others. Walking it back is more damaging than leaving it alone.
Comment by SAP Monday, Apr 20, 20 @ 4:39 pm
What MrJM said.
Drawing attention to Illnois pensions was cringeworthy, but all the states and municipalities are going to be in trouble.
The Fed needs to get it’s printing press back out and make interest-free loans to states and municipalities because they’re all gonna need it.
Comment by TinyDancer(FKASue) Monday, Apr 20, 20 @ 7:22 pm
Oops….its.
Comment by TinyDancer(FKASue) Monday, Apr 20, 20 @ 7:32 pm
Bite the bullet and raise taxes enough to make the scheduled pension payments. Its Illinois’ problem and Illinois needs to deal with it. If the Feds bail out Illinois, they are going to have to do the same for New Jersey and Connecticut and eventually California. Not to mention the other states and cities that will just quit contributing to there respective pension plans with the justified expectation that they will eventually be bailed out.
Comment by Looking down the Road Tuesday, Apr 21, 20 @ 12:33 am