"As a born and bred Connecticut Yankee, I am second to no one in my love for this state. I defy anyone to find a state that offers a better combination of rural, suburban and urban charm in a package of 4,800 square miles to its residents. If you want something, you can find it here.

But that is not to say all is well. Our largest companies are fleeing for more business-friendly states, people are leaving for cheaper cost of living states, and, despite an income tax and approximately $200 million per year from Foxwoods and Mohegan Sun, each Connecticut taxpayer owes $56,500 to pay off our state’s debt, according to Truth in Accounting. We are consistently ranked at or near the bottom of surveys of fiscal health."

"The city of Baltimore is struggling to pay off its crippling debt without burdening its taxpayers. The nonprofit group Truth in Accounting recently ranked Baltimore 65th out of 75 major U.S. cities based on fiscal health, and when it comes to Maryland, our state ranked 37th out of all 50 states."

A not so funny thing happened on the way to the release of our Financial State of the Cities. We used 2021 data, because most cities don’t have their 2022 data out yet. For 2021 there were crazy data swings. The most alarming was that San Francisco went from 67th worst city out of 75 to 2nd best. Los Angeles had a similar swing going from 44th worst to 4th best.

I'm sure you've heard the Mayor Lightfoot news by now. 

What does this mean for Chicago? What does this mean for the country?

Chicago ranked second worst in the nation in our most recent report on the fiscal health of our 75 largest cities. 

As the third largest city in our country, Chicago has affected culture and politics.  

How could it not????

"Lexington, Ky.–A recent report from Truth in Accounting (TIA), a nonprofit government finance watchdog group, has ranked Lexington, Kentucky as the 59th most fiscally healthy city out of the 75 most populous cities in the United States. The analysis was based on Lexington’s 2021 annual comprehensive financial reports, which revealed that the city is facing a significant financial shortfall of $857.3 million. This means that each taxpayer in Lexington would need to contribute $9,400 to help the city get out of the red."

"If you live in one of America’s biggest cities, it’s likely your municipal government cooks the books, overestimating money coming in and undercounting bills.

Truth in Accounting (TIA) released its latest report, “Financial State of the Cities 2023,” earlier this month. New York is the worst city, but Boston and Philadelphia also received failing grades.

Many cities mislead taxpayers, TIA watchdogs say."

"If you’re looking for truth in accounting, don’t come to Philadelphia.

That’s the finding of a government watchdog group that rates American cities on their honesty and transparency in public accounting. They examined the accounting practices of 75 major municipalities and rated the City of Brotherly Love number 70."

"(The Center Square) – The majority of the 75 most populous U.S. cities can’t pay their bills and have a combined debt of $266.5 billion, according to new Financial State of the Cities report by Truth in Accounting.

The Chicago-based nonprofit’s seventh annual report evaluated fiscal 2021 data and found that 50 out of 75 cities evaluated – 66% – didn’t have enough money to pay their bills. Their combined debt totals $266.5 billion; combined pension debt totals $109.8 billion; and combined OPEB (other post-employment benefits) debt totals $168.7 billion."

"(The Center Square) – The most populous Texas cities, all run by Democrats, have the highest debt and taxpayer burdens compared to Republican-led cities, according to an analysis published by the Chicago-based nonprofit, Truth in Accounting.

TIA every year evaluates the fiscal health of the 75 most populous U.S. cities. This year’s Financial State of the Cities report analyzed fiscal 2021 data."

"If you are a citizen of Illinois, you are a victim of financial catfishing.

The only reason I know about catfishing is because I have a hard time sleeping, and the MTV show “Catfish” just happens to be one of the few non-infomercial programs on in the middle of the night. For those of you who do not know, catfishing is defined as a deceptive activity in which a person creates a fictional persona or fake identity on a social-networking service, usually targeting a specific victim."

"In your face

One refreshingly repulsive thing about Chicago politicians is their practice of making no bones about who and what they are.

No one there makes any bones about the hard-ball nature of running an election, winning by any means necessary.

That approach was on display again this week when Chicago Mayor Lori Lightfoot made an open appeal for what can only be described as vote fraud — nothing new to her city — to help her win re-election."

"On Tuesday, February 28, Chicago voters will decide whether Democratic Mayor Lori Lightfoot has earned a second shot at leading America’s third-largest city. Her most formidable challengers are Cook County Commissioner Brandon Johnson (who has the support of the Chicago Teachers Union), former CPS administrator Paul Vallas (backed by the Fraternal Order of Police), and businessman Willie Wilson."

"Studies show the tax burden on people and businesses in Illinois - and particularly those in Chicago - is among the highest in the country. 

Economists warn that unless lawmakers change how they write budgets, Illinois is likely to continue its decade-long exodus of residents and businesses."