Because of pensions, Chicago pays $157 for $100 of payroll

By Adam Gorcyca

09/10/2026

A history of financial mismanagement has left the city putting in 57% of covered payroll for pensions, but even that’s not enough.

Illinois’ financial transparency ranks among worst in the nation

By Jessica Rehberg

06/29/2026

The state ranked 46th in a recent report, getting only 51 out of 100 points.

Illinois sets U.S. record: over 2 years late with state spending audit

By Jerry Barmore

09/01/2025

Accounting standards call for annual spending reports within 180 days of the year’s end. Illinois took 774 days to produce its 2023 report, setting a national record for tardiness.

TAGS: budget, ILGA: Illinois General Assembly, JB Pritzker

Report: Illinois fiscal health again 2nd worst in U.S.

09/22/2020

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.

TAGS: debt, economy, JB Pritzker, pensions

Madigan’s fiscal legacy: How the longest-serving state House speaker built Illinois’ mountain of debt

By Adam Schuster

08/26/2020

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.

Watchdog: Illinois fiscal health 2nd worst in nation

09/25/2019

Illinois politicians have too often ignored the necessity of true pension reform and instead opted for tax hikes.

TAGS: budget, debt, taxes, Truth in Accounting

New Illinois financial documents expose ‘fair tax’ absurdity

By Austin Berg

09/05/2019

Illinois’ two major income tax hikes were major failures.

TAGS: fair tax, income tax, JB Pritzker, progressive income tax, taxes

Illinois income tax hikes failed to fix state finances

By Adam Schuster

09/03/2019

In a single year, Illinoisans witnessed their state’s net worth drop by a staggering 35%, or $47.4 billion, despite shouldering the largest permanent income tax hike in state history.

TAGS: fair tax, income tax, progressive income tax, taxes

Lightfoot must pursue pension reform, reasonable labor contracts to fix Chicago’s budget

By Bill Reveille

06/17/2019

Persistent budget deficits, enormous and growing pension obligations, a high debt burden and labor contract negotiations all await Lori Lightfoot as she settles into office.

TAGS: budget, Chicago, Chicago City Council, Lori Lightfoot, municipal pensions, pension guarantee, pensions

Bad budgeting basics: How Illinois’ budget process hurts taxpayers

By Adam Schuster

06/14/2018

It is time to give taxpayers and businesses the certainty they need to plan a long-term future in the state.

Annual comprehensive financial report

Because of pensions, Chicago pays $157 for $100 of payroll

Illinois’ financial transparency ranks among worst in the nation

Illinois sets U.S. record: over 2 years late with state spending audit

Report: Illinois fiscal health again 2nd worst in U.S.

Madigan’s fiscal legacy: How the longest-serving state House speaker built Illinois’ mountain of debt

Watchdog: Illinois fiscal health 2nd worst in nation

New Illinois financial documents expose ‘fair tax’ absurdity

Illinois income tax hikes failed to fix state finances

Lightfoot must pursue pension reform, reasonable labor contracts to fix Chicago’s budget

Bad budgeting basics: How Illinois’ budget process hurts taxpayers

Taxed out: 10 reforms to stop Illinois from losing people and jobs

Report Archive

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Process for unionizing non-state workers raises red flags

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students