Budget black hole: Pensions and debt devour Chicago budget – Illinois Policy

New York City spends roughly 17 percent of its budget on pension and debt service, while Los Angeles spends about 11 percent. Chicago’s share of 40 percent is double that of other major cities.
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Ataraxis
7 months ago

It’s only going to get worse as downtown empties out and more real estate is vacated.
Vacant real estate means the building owners can’t pay the city property tax or take care of their buildings
This is a doom loop.

Leaving Soon, just not soon enough
7 months ago

This is never going to work out good for the taxpayer.
Pension costs are the main driver of higher and higher taxes.

Chicago’s budget has grown by about 40% since 2019, but the biggest reason isn’t better services, it’s pensions and debt. Chicago’s total budget has grown by $3.53 billion, reaching $12.39 billion in 2025. Almost half of that growth, or about 46%, went to pensions and debt service.
Chicago’s share of 40% is double that of other major cities.

Free at Last
7 months ago

NONSENSE!!! They have no problem finding money for illegals. When all else fails just go back to the same idiots who keep electing you and hit them up They’re not real bright.

Leaving Soon, just not soon enough
7 months ago

The Public Sector pensions are like economic cancer; it will kill the patient sooner or later. Getting rid of a public sector employee is like trying to get rid of Herpes. The pension costs are growing like wildfire and there is no hope of solving it now.

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