Monday, March 23, 2026

Chicago's debt crisis a 'pay later' cycle, Illinois Policy Institute expert warns | Fox News

Chicago's debt crisis a 'pay later' cycle, Illinois Policy Institute expert warns | Fox News

Chicago Mayor Brandon Johnson and his administration are presiding over a city in serious financial straits. 

Chicago, the nation’s third-largest city, is facing a corporate fund budget gap of more than $1 billion, while its 2025 fiscal year is projected to close with a roughly $150 million deficit with about two-fifths of the budget going toward debt service and pension costs.

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