Former Illinois Speaker of the House and current head of the Illinois Democrat Party announced his resignation. After nearly 5 decades of controlling the state he’s finally riding off into the sunset. Well… not quite. He’s only stepping down from his position as a representative of his district. He will remain the head of the party and the head of Chicago’s 13th Ward Democratic Organization.
The truest statement Mr. Madigan has made in recent memory is in his resignation statement.
Fifty years ago, I decided to dedicate my life to public service. Simply put, I knew I wanted to make a difference in people’s lives.Chicago Tribune
Under Madigan’s leadership the State of Illinois is bankrupt. He has refused to face up to the out of control spending and the crushing weight of public employee pension obligations. Madigan made sure public employee unions received gift after gift that allowed them to completely run roughshod over the people.
Just about a year ago Illinois’ debt was analyzed and found that the people owe more in pension obligations than they make in a year. Thanks for making such a big difference Mr. Madigan. Hopefully for the people that remain in Illinois your resignation is a good thing.
Our analysis at OpenTheBooks.com shows that an Illinois family of four now owes more in unfunded pension liabilities ($76,000) than they earn in household income ($63,585). In a state of 13 million residents, every man, woman, and child owes $19,000 — on an estimated $251 billion pension liability.Forbes