Illinois finances continued to decline

Illinois FY2019 1

In the fiscal year 2019, Illinois’ financial position worsened by $2.1 billion. The state finances have been on a steady decline since 2009. Currently, Illinois is $226 billion in debt. Since 2009, Illinois’ financial position has worsened by 88 percent. 

The state has been fiscally mismanaged for many years. Gov. Pritzker claims the budget is balanced, but he is not including unfunded pensions and retiree health care benefits. The largest portion of Illinois debt is the combined $200.3 billion the state owes in pensions and retiree health care benefits. Illinois pensions are only 38 percent funded while no money has been set aside to fund retiree health care benefits.