According to the Governor’s FY2017 budget, as of December 31, 2015, the State’s swaps portfolio has a negative value of $138.0 million, which is an increase in its liability exposure from the negative value of $123.7 million reported as of June 30, 2014. The State’s credit rating would trigger its swaps termination clauses if either Moody’s or S&P reduced its credit rating two levels or if S&P reduced its rating by three levels.

Comment: Big salute to DePaul University for doing this. Maybe the kids haven’t found the answer but this a great way to get them thinking about the problem. The plans submitted by students are linked here.

Comment: This author seems to be the only journalist who understands how the education bill was funded — almost. That’s part of a much broader topic we’ll be writing about this week.

Among a number of entities struggling with little or no funding from the state are the 97 soil and water conservation districts in Illinois. They have received no funding since the end of 2015.

Michigan, Minnesota and now Nebraska have reformed civil asset forfeiture – it’s time Illinois followed suit.

“The professors at SIUE are indignant about the possibility their pension system may belly up and they will be unable to receive the meager living and pensions they were promised by our astute Democrat politicians. Keep in mind that the general survey shows 90 percent of university instructors align with the Democrat Party.”

Democratic state Rep. Jack Franks said he’s not in favor of the idea. There are 71 Democrats in the Illinois House. That’s the exact number of votes a bill needs to survive a veto by Gov. Bruce Rauner, who opposes the tax increase plan.

A progressive tax would give Illinois politicians carte blanche to raise rates, which would end up sticking middle-class taxpayers with rates originally intended for “the rich” – all while chasing still more residents and businesses out of the state.