Pensions set to consume 29% of Illinois’ budget amid $7 billion debt increase
Pensions set to consume 29% of Illinois’ budget amid $7 billion debt increase New official reporting from the state of Illinois shows both rising debt and rising costs in state retirement systems, with essential government services again facing cuts.
Illinois Gov. J.B Pritzker in February will tell state lawmakers how he plans to balance the state budget for the coming fiscal year, but he will start with nearly 30% of the state’s revenues already dedicated to public pension debt.
If Illinois continues to pursue across-the-board tax hikes and cuts to essential government services, it risks further harming its economy and losing residents. The governor’s administration has threatened both wide-ranging cuts and tax increases.
This fight for Speaker is going to get very ugly.
- Anon E Moose - Wednesday, Dec 16, 20 @ 9:02 am:
Rep. Welch is all for getting people jobs through connections. Like his wife at his current law firm (and former one).
Mary Flowers is now a member of house leadership? This is a self inflicted wound for the ILDP. wow, she is brutal. Like Darren Bailey brutal, just on the opposite side of the spectrum.
This “misunderstanding” of what’s at play is actually the “misinformation” those trying to save Madigan are using to seem thoughtful.
The 19 only agree on ONE thing, as their letter clearly indicates, with everyone “signing” below;
Rich Hein/Sun-Times file photo
While the lawmaker committee investigating House Speaker Michael Madigan did not find wrongdoing on his part, his path to another term as speaker likely remains slim.
He’s still six votes short.
Charlie Wheeler, a professor emeritus at the University of Illinois at Springfield who reported on Madigan for more than two decades, said the only thing that could change the minds of some Democratic lawmakers would be for U.S. Attorney John Lausch to declare Madigan “spotless as a newborn babe.”
Since that isn’t going to happen, for a Democratic lawmaker, who has already publicly opposed Madigan as speaker, to now flip in his favor “would be political suicide,” Wheeler said.