Chicago leaders hand $40K in debt to each taxpayer, second-worst in U.S.
But that only covers Chicago’s debts. Those same taxpayers would need to contribute an additional $37,000 to pay down the state’s existing debts, according to Truth in Accounting’s most recent 2024 State of the States report.
READ MORECan We Handle the Truth . . . of Our Cities’ Financial Status?
The “Financial State of the Cities 2025” report by Truth in Accounting provides a comprehensive analysis of the fiscal health of America’s 75 largest municipalities. Alarmingly, it reveals that 54 of these cities lack the necessary funds to meet their financial obligations.
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