Chicago businessman Chris Kennedy formally announced his Democratic candidacy for governor Wednesday, and quickly went on the attack against Republican Gov. Bruce Rauner.

In an interview, Kennedy blamed Rauner for the state's historic lack of a full-year budget and decried the Republican for what he characterized as a lack of leadership with the state's economy and government finances continuing to weaken.

"I think Gov. Rauner's taken a state government budget problem and turned it into economic chaos for the rest of the state. I don't think it needed to go that way. And I think it's fixable," Kennedy said.

"If you look at what business wants, what small business needs and large corporations want, they want stability from their government. They want predictability. They want to understand how the government's going to behave," he said. "And right now we have chaos and the unknown, and those are the enemies of an economy. Gov. Rauner needs to develop a budget and get it passed by the legislature, and when that happens, we'll have much greater stability in our state."

Chris Kennedy to run for Illinois governor

Background on Chicago businessman Chris Kennedy, who has officially filed paperwork to join the Democratic race for Illinois governor. Feb. 8, 2017.

Background on Chicago businessman Chris Kennedy, who has officially filed paperwork to join the Democratic race for Illinois governor. Feb. 8, 2017.

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The Rauner-subsidized state GOP quickly attacked Kennedy, calling him a "lap dog" of the governor's chief political nemesis, Democratic House Speaker Michael Madigan. And Rauner's campaign team sent out a fundraising email that called Kennedy "a pawn of Mike Madigan."

Kennedy called the fundraising missive "just pathetic."

"I think it's an insult to me, an insult to the entire Kennedy family and an insult to the voters of Illinois to make a statement like that that anybody's going to believe," he said.

"I think Gov. Rauner has spent his entire time blaming others and not leading. Even now, as the state Senate tries to find a compromise on the budget, Gov. Rauner remains on the sideline. We don't know what his intentions are. And that's not right. He's in the big chair. He ought to lead. Otherwise he's one and done."

During an appearance in Normal, Rauner said it was "premature" to discuss the Senate maneuverings on a budget blueprint, saying "it's all in our interest for them to be successful."

Rauner also declined to address Kennedy's entry into the 2018 race for governor.

"I am very focused, like a laser, on getting a balanced budget with structural changes to our system, but it's broken and been broken for a long time," the governor said. "And we need to compromise with each other. We need to listen to each other. And I'm very focused on that. I'm really not paying attention to politics."

Campaign ad: Chris Kennedy is running for governor

Campaign ad: Chris Kennedy is running for governor.

Campaign ad: Chris Kennedy is running for governor.

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Kennedy, 53, previously had considered bids for state office only to abandon them. But in his current effort, he has worked to gear up on staff prior to an announcement.

He is the second announced Democrat to challenge Rauner's expected re-election bid. Chicago Ald. Ameya Pawar also has announced, but several other Democrats are considering a run — including another Chicago businessman, J.B. Pritzker.

Democrats have been looking to field a wealthy competitor as a counterbalance to Rauner, a wealthy former private equity investor who has used his resources to try to rebuild the state Republican brand. Rauner recently pumped $50 million of his personal money into his campaign account as a show of strength against any potential Democratic challengers, and aides promised there was more money to come.

Kennedy said a government of negotiation was needed in contrast to Rauner, who has made changing laws to help business and weaken organized labor part of his conditions for approving new revenues to balance the state budget. Democrats who control the legislature and are backed by unions and civil attorneys oppose Rauner's proposals.

"Negotiation is not surrender. Compromise is not a sign of weakness. In fact, it's a show of strength," Kennedy said, saying the state's failure to come up with a budget is a "uniquely Illinois issue and it's a uniquely Gov. Rauner issue."

"I don't think we can tax our way out of the problem. and I don't think we can cut our way out of the problem. But first and foremost, we need a governor who's going to have the courage to come forth with a budget and not a budget that has a giant $2-or-$3-or-$4 billion hole in it, which he promises to fix later," Kennedy said.

Kennedy formerly managed the Merchandise Mart and is now involved in real estate development at the Wolf Point project in Chicago. He and wife Sheila have four children.

Chicago Tribune's Kim Geiger reported from Normal.

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