A new report from government finance watchdog Truth in Accounting gave the Windy City an “F” for financial health. Chicago’s massive $36 billion net debt stems primarily from pensions.

Decades of institutionalized financial mismanagement left Illinois with the nation’s worst fiscal health. Illinois House Speaker Mike Madigan has been at the center of nearly every bad decision along the way.

Lightfoot’s budget depends on borrowing and property tax hikes.

Each Illinois taxpayers owes $52,000, thanks to politicians spending more than they already take in. On Nov. 3 taxpayers will be asked for even more.

Only Gov. J.B. Pritzker’s progressive income tax amendment will appear on the ballot in November. Voters were denied a chance to make critical reforms to state government.

Two decades of fiscal mismanagement have left state finances ill-prepared for the COVID-19 pandemic. Congress should condition any additional aid for troubled states on taxpayer protections that ensure pensions are solvent, accounting is realistic and budgets are balanced.

As Illinois teeters on the edge of a junk credit rating, one key policymaker is floating bankruptcy as a solution.