-- Connecting the dots between our economy, government and business --
The trend, says Civic Federation President Laurence Msasll, won't change until the CPS CEO's handcuffs come off. "The handcuffs are - he can't close any schools. He can't make the district really more efficient until this new school board – which is not going to be seated, the 21-member school board, for two more years - he can't close any schools. We have unnecessary sunken expenses."
Summary and audio linked here.
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.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
When I was a student years ago classrooms were generally populated with 40+ students. Today parents demand 20 or less students for their little soccer angels. Rich, poor or midway these parents all demand the same as long as the taxpayers foot the bill. Then we wonder why costs go up and yet at the same time standardized tests cores decline. Spoiled brats with little home training or perhaps lazy teachers. Maybe a combination of the two as after all…this is Illinois
My first grade nun in Detroit had 50 students! Sister Jean was on a mission from God. I hope the Lord allows me to join her eventually.
And she never went on strike!
I read years ago that standardized test scores were being bumped up. That means an ACT or SAT score many years ago would yield a higher score today. That’s one way to make it look like teachers and students are performing better. Yet, you’re saying standardized test scores are still declining. Yikes.
True. A 29 on the ACT thirty years ago would be a 31 today.
One day there will only be 1,000 students and we will still have the same amount of morons collecting money. Teachers should be paid by results, if they were they would have to pay the taxpayers.
Are there actual dollars coming in the door, or are we talking about bank loans issued based upon assessed property values that completely ignore the considerable number of properties that fall into tax delinquency each year? So much money is said to be available, yet the product declines and the facilities deteriorate.
Featherbedding is a feature, not a flaw. Keep voting ‘Democrat’.
How does giving CPS an extra $1.4 billion dollars from the state address the issue that costs are increasing while enrollment is plummeting? The property taxes are still going up regardless. In a statement late Thursday, CPS said in part:“Chicago Public Schools (CPS) aims to promote financial stability across our system with strong financial practices and operational excellence….the General Assembly passed in 2017 – what is called the Evidence-Based Funding (EBF) Formula for education but the formula has never been fully funded. In FY23, CPS received 74 percent of what that funding formula says is needed to ‘adequately’ fund the… Read more »