Corruption fighter Andy Martin says the State of Illinois should file for bankruptcy
One day after Rod Blagojevich was removed, it’s corruption-as-usual in Illinois: Andy Martin says Governor Pat Quinn’s “reform governorship” lasted 18 hours. Quinn has begun efforts to entrench himself by seeking to manipulate the election calendar. Bankruptcy is Illinois’ only solution says, Martin.
Internet Powerhouse Andy Martin says the State of Illinois should declare bankruptcy
“Factually Correct, Not
FOR IMMEDIATE RELEASE:
ILLINOIS CORRUPTION FIGHTER ANDY MARTIN SAYS GOVERNOR PAT QUINN IS BACK TO SUPPORTING “SMALL BORE” ISSUES AND SEEKING TO BENEFIT HIMSELF POLITICALLY
MARTIN SAYS QUINN SHOULD CONVENE THE LEGISLATURE, SEEK APPROVAL FOR FEDERAL BANKRUPTCY, AND FILE A PETITION TO ADJUST ILLINOIS’ ASSETS AND LIABILITIES
(CHICAGO)(January 30, 2009) Back in the 1970’s and 80’s, Pat Quinn focused on “small bore” issues. His biggest “victory” was a disaster for the state. Quinn eliminated cumulative voting, a system that helped create statewide parties and had produced most of the distinguished members of the legislature. Ever since Quinn “won,” the people have been losing. Mediocrity reigns supreme in Springfield.
Quinn’s “reform governorship” lasted all of 18 hours. Today he proposed moving the primary election date to September, 2010 to “shorten” the election season, as though moving dates on a calendar can control political activity. Quinn was engaging in a blatant maneuver to benefit himself personally, and nothing more, by trying to manipulate the primary election date.
So what should Quinn do? He should bite the bullet and seek legislative approval to place the State of Illinois in federal bankruptcy court.
Illinoisans are living in a daydream. Politicians promise they can somehow some day make up the deficit in their public accounts, which runs to almost $100 billion with pensions figured it. Yah, sure. It can’t happen. The State of Illinois is the functional equivalent of an automobile manufacturer, without the wheels. The government has an unsustainable model. Illinois can never tax its way out from under the mountain of debt that was created over the decades by lax management and labor unions. The debt created by Daley machine corruption and greed will not disappear. The state’s unfunded liabilities are getting bigger, not smaller, every day.
Bankruptcy would allow the court to balance assets with liabilities and provide realistic pension benefits going forward. Bankruptcy would also be the best way to avoid state tax increases. Bankruptcy would demand that a full and complete accounting be prepared.
Public employees, of course, will howl. Outrageous looting of pension funds and “double dipping” predators such as Senator Carol Ronen would be abolished. http://illinoisreview.typepad.com/illinoisreview/2008/05/the-porcine-pen.html
If Quinn does file and achieve a successful result, the City of Chicago and Cook County will soon have to follow. They are also bankrupt, which is why Richie Daley is selling off roads, parking lots and airports to pay the light bills. How long are people going to labor under 10.25% sales tax before they move out?
Rod Blagojevich was removed so the Daley Machine could raise state taxes. How is Quinn going to fight tax increases when he knows the state is bankrupt and raising taxes will create a vortex of death for the state’s finances?
The new governor should call the politicians’ bluff, and march the state into bankruptcy court. All of the game playing and evasion and prevarication would end once the state’s finances were under the supervision of a federal judge.
Federal supervision can be successful. Federal courts have supervised state prison systems, school districts and the like. Why not an entire state that has promised more than it can afford to pay?
If Quinn has the “testicular virility” (where have I heard that before) to bite the bullet and file for bankruptcy, he will leave behind his past history of small bore issues and start acting like a leader.
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Andy Martin is a legendary Chicago muckraker, author, Internet columnist, radio talk show host, broadcaster and media critic. He has over forty years of broadcasting experience in radio and television. He is currently based in New York promoting his best-selling book, Obama: The Man Behind The Mask. Andy is the Executive Editor and publisher of http://www.ContrarianCommentary.com.
Martin comments on regional, national and world events with over forty years of experience. He holds a Juris Doctor degree from the University of Illinois College of Law and is a former adjunct professor of law at the City University of New York.
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