Bruce Rauner once claimed he was a fiscal conservative and now he has been named Governor Junk by his favorite newspaper, the Wall Street Journal:
The Illinois Capitulation – Gov. Bruce Rauner cries uncle on taxes and economic reform
Bruce Rauner spent a chunk of his personal fortune running for Governor in 2014 to save Illinois from its tax-and-spend political class. More than two years later it looks like the former private equity star has made better investments.
On Tuesday evening the Governor with the worst job in America explained why he and his fellow Republicans have offered to raise taxes for the sake of ending a multiyear budget impasse with Democrats. He said he’ll accept a four-year increase in the flat state income tax to 4.95% from the current 3.75%, expand the sales tax and implement a cable and satellite TV tax.
This is a political defeat by any definition since Mr. Rauner campaigned on lowering the income tax to 3%, not on restoring the rate close to what it was under the last Democratic Governor. The “temporary” 5% rate partially sunset in December 2014. Democrats who run the legislature refused to negotiate over a budget unless Mr. Rauner agreed to a tax increase, and now they’re refusing to make notable spending or economic reforms in return. […]
The Governor’s capitulation may have been triggered by the latest downgrade by Moody’s and Standard & Poor’s in the state bond rating to near junk status, with a warning that another downgrade could come this summer. Mr. Rauner doesn’t want to run for re-election next year as Governor Junk.
But it’s even worse than that.
His own appointees are DOUBLE DIPPING on their pensions. Governor Rauner refuses to fire Board of Procurement chairman Frank Vala, his own appointee, who is behind millions of dollars worth of shady insider warehouse deals with convicted felon Bill Cellini. Worse yet, Rauner, the Junk man, has put Illinois taxpayers on the hook for $21 billion in unpaid bills with millions more in interest payments.
Governor Junk has failed to do his constitutional duty and refused to even submit balanced budgets three times since he was elected. Three strikes and he’s out!