Four takeaways from Gov. Pritzker’s first budget address

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Credit Gov. J.B. Pritzker for not staggering off the dais Wednesday while reciting Illinois’ financial quandaries: alarming unfunded pension liabilities, a $3.2 billion budget shortfall and $15 billion in unpaid bills. Oh, we almost forgot the $700 million Illinois paid in late fees on its invoices last year, enough to send 12,000 students to a four-year college. That’s what out-of-control deficit spending looks like.