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Chicago’s Debt Crisis Deepens | Fort Wayne News
Illinois is in deep financial trouble, with the state holding the nation’s worst debt ratio at 276%, owing $220 billion against just $80 billion in assets. Chicago’s crisis is even more alarming—flagged for seven of eight financial red flags—with $77 billion in debt and only $49.8 billion in assets. The burden hits residents hardest, especially students facing over $93,000 in school district debt per pupil. With overlapping city, county, school, and state obligations, Chicago mirrors Detroit’s 2012 collapse and risks insolvency or municipal bankruptcy unless drastic action is taken. Cook…
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