Big cities drowning in debt, Chicago leads the way

"We're number one," Chicago cries out!

From Fox News:

America’s 10 largest cities, largely Democrat strongholds, are drowning in municipal debt, according to a new report from government watchdog Truth in Accounting.

The report sought out “to determine what ... overlapping financial entities mean for taxpayers’ bottom line.” Truth in Accounting said its purpose was to “calculate the various bills (and surpluses, when available) at the city government level and divide them out to determine a per-Taxpayer Burden.”

The two cities with the highest burden: Chicago and New York City; Chicago’s combined taxpayer burden: $119,110; New York City’s combined taxpayer burden: $85,600.

Chicago has been a hotbed for such burdens.

During the recent municipal elections Chicago's pension bomb was barely discussed. But several socialist aldermen will be sworn in next week.

Decline and fall.

Chicago hasn't had a Republican mayor since 1931.