You may have read the stories about how next year's mandatory state-pension payment will rise by a whopping $1 billion.
The new numbers show the state's total pension payment, with debt service, will be more than $7.4 billion next fiscal year. This year's pension payment was originally set at $6.4 billion back in March but is now $6.5 billion.
Not including federal money, the state budget is around $30 billion. So one out of every four state tax dollars spent next year will go to the pension funds, and every last penny from January's "temporary" state-income-tax increase will be used for that pension payment next year.
In an exclusive interview last week, CME Group Executive Chair Terry Duffy said he's more than ready to leave Illinois if he doesn't get what he believes is a "fair" tax deal from the General Assembly.
Illinois Democrats can be excused for feeling more than a little spooked these days.






