Quote:
Originally Posted by glowrock
Thankfully, there will eventually come a time when the pension debt finally starts declining. For better or for worse, that will happen when the elderly pensioners start dying off.
Given the ridiculous engrainment of the pension system into the Illinois Constitution, there's not much that can be done with this massive albatross around our financial neck, short of a municipal bankruptcy. Hopefully we can somehow keep things afloat until the situation I just described starts occurring.
Aaron (Glowrock)
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^ Something very much can be done. The Constitution can be amended.
The albatross is not the pension debt, it's the political special interests who prevent the leaders that they control from doing the right thing for the public.
The pension debt is being treated by some as if it's an absolute thing--sort of like a star, a planet, or an asteroid. It's not: it's a human abstraction. We created it through a bunch of documents and made a monumental miscalculation--all we need is to modify those same documents to correct the blunder. That's all that is needed to fix this problem.