It’s Billions with a “B”

Today is the first day of the state’s new fiscal year and Governor Pat Quinn says the state’s pension debt continues to grow. State projections show the debt grows by five-million dollars each day. The governor says the number will keep growing as long as the General Assembly fails to pass comprehensive pension reform.

Quinn blames the pension burden for two-billion dollars in education cuts and three-billion dollars in social services.   Meanwhile, Comptroller Judy Baar-Topinka says the state ended the year 6-billion dollars in the red.