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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.
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Another reason for the ILLEGAL INVADERS . Children to fill the schools and needing ESL teachers to work with them .
CTU will not allow CPS to close underutilized schools and lay off the associated staff. Before CPS gets another dime, they need to stand up to CTU and do this. Improving student test scores is the next thing. Not lowering the requirement for students to be considered “proficient.
Reminder, the current proposed 2025-26 CPS budget is $10.25 B for 325,300 students (or approx $31,500 per student). Per CTU, pols & press– CPS is still owed another $1.6 B under state EBF which would be a total budget of $11.85 B (or approx $36,400 per student)!!!!…all while CTU is highest paid teachers nationally and student achievements are abysmal!!! Who in the wackie world are the lib-tards believers still sip-pen the kool-aid???
That’s why the school funding formula, EBF, is a joke. It was a political concoction designed so schools could forever say they are “underfunded” and demand more.
Imagine what the debt would be is the schools were overcrowded!
Time to pull up their little boy pants and start laying off teachers, 9,000 hired during covid would be a good START.
Hey CPS reduced the hot lunch program and removed some crossing guards…that was a lot of work, they need a month off to recuperate. These grifters aren’t even looking to solve the problem. They believe if they screw around with it long enough, they will force the state to pay. Grifters. Close it, Fire them all.
One in three desks are empty but six of three admin jobs with future pensions are filled. And how many vastly under enrolled buildings are kept open as jobs programs? Rationalize resources to the benefit of students and taxpayers? Can’t have that!
The CPS is a perfect example of why Illinois is falling behind all the other states. They invest in empty space and spend money they do not have.
But the quality and accomplishments of the students is very impressive.