While the Chicago Police Department deals with the surge in violence in that city since the beginning of the year — and its own role in that violence — the Chicago Department of Finance has its hands full as well.
Ten billion dollars in municipal debt has been downgraded by the good people at Fitch to just above junk.
The rating agency pointed to last week’s Illinois Supreme Court ruling striking down pension reform legislation.
Chicago’s $20 billion in unfunded pension liabilities is at the heart of the city’s financial mess.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
