In another sign of the poor fiscal management of Cook County, Fitch has downgraded the Cook County bond rating.

From a Fitch press release:

The downgrade reflects increased pressure on financial operations, as evidenced by declining general fund balances, growing dependence by the county’s massive health system on tax subsidies, and a recent pension payment deferral. Further compounding diminished financial flexibility is the increased burden of a high-sales-tax environment in the current weakened economy. Additionally, Fitch believes that political and financial inconsistency in both general and health system governance, if not fully addressed, could lead to further financial pressure.

Spending more than you take in is never a recipe for fiscal success.  And the more the Stroger Administration taxes our families and employers, the worse our situation will become.