Illinois is generally in the bottom three of states for pensions being underfunded, and Chicago is normally the city with the highest or second highest sales tax in the US. As an Illinois resident I'm concerned about the high percentage of taxes over the next several decades that will go to service debt, and therefore not provide other services. I think this causes issues which scare away established employers as well as entrepreneurs (high crime rates, struggling public schools, etc). This will then drive away young people who are looking for good jobs, and therefore Illinois misses out on the taxes those people would pay over their careers and thus the situation spirals down further.

https://taxfoundation.org/state-pension-funding/

https://www.taxjar.com/blog/cities-and-states-have-the-highe...