Former Illinois Representative Jeanne Ives said that Chicago is effectively bankrupt and that investors are expressing concern about the city's debt. This statement was made in a social media post on X dated November 25.

"Few understand what this means - Chicago is bankrupt and the market knows it," said Jeanne M Ives, Former Representative.

According to the Chicago Tribune editorial board, on November 24, 2025, "bond vigilantes" are opposing Mayor Brandon Johnson's borrowing plans. This follows a recent Sales Tax Securitization Corporation (STSC) deal that saw limited demand and wider spreads. The board indicated that market resistance, including increased underwriter support needed to place bonds, suggests higher costs in the future. They urged the City Council to limit new debt and pa

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