How Democrats Pillaged Chicago Toward Bankruptcy. Of the ten largest cities in the U.S., Chicago is the only one that has no statutory limit on its muni bond issuances.

The American Thinker on the disaster know as Chicago:

Of the ten largest cities in the U.S., Chicago is the only one that has no statutory limit on its muni bond issuances. Consequently, Chicago’s 2015 debt service and annual pension costs amount to 45% of its 2013 revenues. The closest to this is a smaller city, San Jose, CA at 28%. The nine other biggest cities have pension and bond debt costs half of that: 22.4%.

Gulp...