The Illinois Senate did not take up the bill on Thursday. Madigan chose to put the entire budget in one bill, which will force Rauner to act. If Rauner vetoes the bill, it could mean schools won’t get funding to open on time this fall.
The state projects that pension costs will devour more than a quarter of the budget for the next 25 years. The problem is, Illinois’ pension crisis is far worse than even the state’s official numbers show. In reality, the state needs to devote half its budget to retirements just to get the crisis under control.