CPS gets TIF windfall, but takes on pension, crossing guard costs in Lightfoot’s 2021 budget – Chicago Sun-Times*

Lightfoot’s hand-picked Board of Education rolled the dice by approving a budget that assumed $343 million in federal stimulus funds that has not materialized. “They’re going to have to cut. They’re going to have to reduce personnel. They’re gonna have to reduce all the different areas they had hoped to be able to fund that they won’t be able to,” said Civic Federation President Laurence Msall.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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