The rating agency cited the city's persistent budgetary structural imbalance, its weakened reserves after years of deficit spending and Mayor Brandon Johnson's decision to cut back supplemental pension contributions in his proposed 2026 budget. S&P also raised concerns around political gridlock and social capital risks, like inequities in health care, public education and housing, that could drive population loss.
Better late (decades late) than never. Moody’s still hasn’t noticed the flames erupting from the fiscal dumpster that is Chicago. Buyers of bonds during the ratings agencies’ reality-defying reporting should be able to sue these serial liars.
Fed Up Taxpayer
6 months ago
Chicago, and Illinois, should have junk status for bonds. Anything else and the analysts are not telling the truth.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Better late (decades late) than never. Moody’s still hasn’t noticed the flames erupting from the fiscal dumpster that is Chicago. Buyers of bonds during the ratings agencies’ reality-defying reporting should be able to sue these serial liars.
Chicago, and Illinois, should have junk status for bonds. Anything else and the analysts are not telling the truth.
Baby steps, S&P, baby steps.