Democratic businessman Chris Kennedy entered the Illinois governor's race Wednesday, assailing Republican Gov. Bruce Rauner for "destroying" the state's economy and failing to lead state government out of its financial mess.

"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," said Kennedy, 53, the son of the slain Democratic liberal icon Robert F. Kennedy and nephew of President John F. Kennedy.

The announcement came more than a year ahead of the March 2018 primary and signals a growing desire among some Democrats to begin an early and extensive campaign to decide upon a finalist to take on Rauner, a wealthy former private equity investor who has used his own resources in an effort to rebuild the state GOP.

But as Rauner seeks to revitalize the Republican brand in Illinois, particularly by tarnishing veteran Democratic House Speaker Michael Madigan, it is the current-day value of the decades-old Kennedy legacy that could be put to a test in what's expected to become a contentious election taking place a half-century after his father was assassinated while seeking the presidency.

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. SEE MORE VIDEOS

In keeping with the governor's long-term, multimillion-dollar strategy of seeking to discredit Democrats and erode their power by linking them to Madigan, Rauner's campaign team sent out a fundraising email that called Kennedy "a pawn of Mike Madigan." The Rauner-backed GOP also referred to Kennedy as a Madigan "lap dog."

Kennedy, who oversaw the family's previous Merchandise Mart ownership and now its Wolf Point skyscraper construction development along the Chicago River, called the attacks "desperate" and "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 told the Chicago Tribune.

"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 (term) and done."

Following an event in Normal, Rauner did not address Kennedy's candidacy when reporters asked about it.

"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. 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," the governor said.

Kennedy, however, contended it was intransigence Rauner has shown in seeking his economic agenda that has damaged the state in a historic stalemate that has left Illinois without a full-year budget for 19 months.

"Negotiation is not surrender. Compromise is not a sign of weakness. In fact, it's a show of strength," Kennedy said.

The Democrat said the state's lack of a budget was a "uniquely Illinois issue and it's a uniquely Gov. Rauner issue" due to the governor's insistence on changes in laws involving workers' compensation, collective bargaining, term limits and the politically independent drawing of legislative districts.

Where he fits in race

Kennedy previously had considered bids for statewide office, only to abandon them. In his current effort, he put together a campaign team prior to the announcement.

He's the second Democratic governor candidate to register a campaign committee, joining Chicago Ald. Ameya Pawar, 47th. Several others are weighing a bid, including another wealthy Chicago businessman, J.B. Pritzker, as well as U.S. Reps. Cheri Bustos of Moline and Robin Kelly of Matteson, and state Sens. Daniel Biss of Evanston, Kwame Raoul of Chicago and Andy Manar of Bunker Hill.

Some Democrats looking at candidacies by Kennedy and perhaps Pritzker are considering potential benefits of fielding a wealthy challenger to Rauner who could largely self-fund a campaign and provide a counterbalance to the governor's deep pockets.

In a show of strength shortly before the end of last year, Rauner put $50 million of his fortune into his re-election campaign bank account, and political aides said there was more money to follow.

Kennedy said Rauner will need "a lot more than $50 million to paper over the mess he has made."

Asked if he was willing to self-fund his campaign, Kennedy said, "I'll put my money where my mouth is. I'll have the resources to compete.

"But it shouldn't be the size of somebody's wallet that determines who's the next governor of the state of Illinois. It should be the breadth of their ideas and the strength of their vision and the depth of their commitment, and Gov. Rauner fails on all three areas."

State Rep. Barbara Flynn Currie, a top Madigan lieutenant, said there were "pluses and minuses" of having a wealthy Democratic candidate run against Rauner.