Illinois state Rep. Chris Miller (R-Oakland) argues that lawmakers in Springfield had better start acting like adults to have any hope of correcting the state’s fiscal crisis.
“I know that myself and some of my conservative colleagues have been trying to have a conversation about this since we were seated, just because we know that [underfunded pensions are] the catalyst that’s driving all the economic problems here in Illinois,” Miller told the East Central Reporter. “So far, we haven’t been able to find anyone interested in even having a conversation. Ignoring the issue isn’t a solution.”
A new Moody’s Investors Service report found that every Illinois taxpayer is now on the hook for nearly $250 billion in unfunded public pension liability, or upwards of $18,000 per resident, giving the state the highest estimated pension debt in the country. By comparison, California, which has some 26 million more residents and a much larger state economy, has an estimated $230 billion in unfunded liabilities.
Illinois state Rep. Chris Miller (R-Oakland)
“From the beginning of my campaign, one of the things I’ve wanted to talk about is working for solutions,” Miller said. “You can’t come up with a solution until you’re willing to admit you have a problem, and so far the vast majority of legislators in the state have not wanted to admit this is a problem. Until they want to deal with this in a responsible way and as adults, nothing is going to be resolved. We can’t be like the ostrich and stick our heads in the sand.”
An increasing number of critics of the current system are warning that the state is teetering on the cliff of not being able to afford its mounting pension contribution requirements should the economy take a turn for the worse.
“Legislators don’t want to do anything because they don’t want to be leaders on this issue, because leaders are always the ones that have to go first,” Miller said. “They don’t want to take an economic hit themselves.”
Again, Miller insists the time has come for every lawmaker in Springfield to take a long, hard look in the mirror.
“The idea that we can pretend this isn’t a problem is long gone,” he said. “I know something will be done, and it will either be done by force or by willingly coming up with a plan to fix this.”