SE Illinois News

Republican House hopeful Darren Bailey is convinced it will take a GOP majority in Springfield for Illinois to have any chance of freeing itself from the state’s financial stranglehold.

“Over the years, I know we’ve had Republican lawmakers pushing bad policy almost as much as Democrats, but I think we’ve got a slate of candidates right now that come from the business world and are willing to hold everyone accountable and do what needs to be done,” he told the SE Illinois News. “You talk to Republican candidates and they’re all willing to acknowledge the problem while Democratic candidates still just want to keep raising taxes. You’ve got some that are even running on a pledge of more spending.”

Moody’s Investors Service recently released a report that shows Illinois’ unfunded pension liabilities have spiked by 25 percent over the last fiscal year and to $250 billion overall. Regulators estimated that now equates to 601 percent of “own source” revenue, or all revenues brought in by the state with the exception of federal funds.

Cynthis Given

“Something has to change,” said Bailey, running against Democrat Cynthia Given in the 109th District. “There’s no way things can continue on this path to nowhere.”

Illinois Policy Institute reports Moody’s and S&P Global have long since declared the state’s bond rating to be just one rung above junk status, downgrading it at least nine times since 2009 with most of the denigration being fueled by the state’s long-rising pension debt.

A low bond rating can factor into the rate the state borrows at, ultimately making it more challenging for the government to maintain many of the basic services taxpayers have come to expect and demand. In 2016, over 50 percent of the state’s police and fire pensions fell short of being fully funded.

The 109th House District includes Clay, Edwards, Effingham, Jasper, Lawrence, Richland, Wabash, Wayne and White counties.