I told my newsletter subscribers several weeks ago that, without a doubt, if Senate President John Cullerton caved in to House Speaker Michael Madigan on pension reform, Cullerton's legacy as Madigan's junior partner would be forever sealed.
The two men have battled for months over the proper way to proceed. Cullerton has said that the state Constitution requires that public workers and retirees be given a set of options before their pension benefits can be reduced. Madigan has said that idea doesn't save enough money, and he has looked for the most cost savings possible. With the pension system at $100 billion in unfunded liability and taxpayer costs rising by about a billion dollars a year, this has become the most important state fiscal issue of our time. It has to be resolved.
I ran into Madigan not long after I wrote that stuff about Cullerton's possible cave. "Rich, you're not helping," he said to me.