Chicago Public Schools’ postponement of its $875 million bond sale indicates investors’ concerns over the financial state of the district.

Without fundamental reforms, the tax hike state Democrats want to impose will only drive Illinois further into decline.

Illinois’ monthslong budget gridlock, $111 billion in government-worker pension debt, and more than a decade of unbalanced budgets have resulted in credit downgrades for Illinois and the highest borrowing costs of any state in the nation.