Mayor Richard Daley is hinting Chicago Public Schools teachers may have to forgo a scheduled pay raise to help balance the district’s budget.

Chicago teachers are due for a four percent pay bump next year, thanks to their union contract.

But Chicago Public Schools released a dismal budget estimate Tuesday, complete with a $900 million deficit for next year.

To help close the gap, Daley says “everybody has to chip in.”

DALEY: No one is an exception to anything on this issue.  And I think Ron Huberman and Michael Scott understand that.  This is a very, very difficult recession.

Earlier this year, Daley negotiated $24 million in union give-backs to help ease the city’s own projected shortfall.

But public schools chief Ron Huberman says he’ll deal with skyrocketing pension costs before he thinks about re-opening the teachers’ contract.