Home Chicago News Chicago Board of Education approves $1 billion in more borrowing – Sun-Times Chicago Board of Education approves $1 billion in more borrowing – Sun-Times October 26, 2016 6 Facebook Twitter Linkedin Email Print Comment: Hey, why not? Nobody will be here to pay it back anyway. This has gone beyond laughable. 6 Comments Newest Oldest Most Voted Inline Feedbacks View all comments Rick 4 years ago Simple year to year cash accounting is no way to run a government. This year is now balanced! 0 J.A. Herzrent 4 years ago My prediction: directly or indirectly, most of the money will go into the pension fund where it will likely be beyond the reach of bondholders and will perpetuate pension payments for a few more months. The rest of the money will go toward paying teachers and administrators (a.k.a. educators) or keeping open schools that should be closed. Those who object will become the targets of angry parents and students, egged on by the teachers. The train wreck is not far off so the engineer and conductors are trying to supplement their emergency funds to enhance their survivability in the aftermath. 0 Lester L. 4 years ago What’s the big deal? The original story was that the bond issue would be $840 million. Now it’s a billion. So they rounded it up a little bit– only another $160 million. City taxpayers are so uninformed they are getting what they deserve. 0 Steve-Oh 4 years ago The school system is producing economic illiterates and that’s easy to see with the elected officials making the laws ! They pat themselves on the back for outrageous borrowing to keep the status quo humming along (towards the cliff), they love taxing the private sector golden goose (to death)……..and they produce students who don’t understand squat about simple or compound interest. American workers by and large are clueless about finance projections. Actually though, the govt WANTS us to bel clueless, otherwise we’d figure out that 1/2 our paychecks go to govt……add up 15.3% FICA, 20-25% federal, 5-6% state, property tax… Read more » 0 bob oriole park 4 years ago And these numb nuts are the ones in charge of educating our children? Just keep borrowing money? They think taxpayers are nothing more than money trees, which is why we keep getting plucked. It’s actually future generations that are getting plucked. I felt so sorry for this little girl on the bus to work, must have been 4 or 5. Her dad was helping her with a drawing as I read the Teacher’s actuarial report. If he only knew what was coming for her when she graduates. 0 Bross 4 years ago Another minute, another fool was born…let me guess. A pension fund will buy these bonds to get the 9% interest rate. So Chicago taxpayers pay. If CPS fails, then the pension fund loses which costs different taxpayers their capital. Taxpayers, always the losers…thanks pols. 0 Wirepoints Original Stories Gun violence has killed 23 times more Chicago youth than COVID – Wirepoints Quicktake December 4, 2020 As of December 1, four Chicago youth have died from COVID but over 90 have died from gun violence. That’s 23 children dead from gun violence for every COVID death. View Comments (1) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter. Illinois’ COVID-19 data: Daily update for December 5, 2020 – Wirepoints December 4, 2020 Daily COVID-19 data update for December 5, 2020. View Comments (520) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter. Illinois still fails its elderly, veterans as COVID deaths hit record highs – Wirepoints December 4, 2020 An analysis of data from Dec. 2, Illinois’ single-deadliest COVID day, shows the elderly continue to dominate the state’s fatalities. View Comments (11) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter. Will Illinois’ two new homebuyer assistance programs really help anybody? – Quicktake December 3, 2020 Governor JB Pritzker’s administration on Tuesday announced two new programs to encourage home ownership. View Comments (12) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter. AFP’s Brian Costin and Wirepoints’ Ted Dabrowski discuss Illinois’ financial calamity – Wirepoints December 3, 2020 Last week, Ted was on with Brian Costin of Americans for Prosperity discussing Illinois' worsening financial crisis and what it means now that the election is over. View Comments (19) | Add Comment Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Sign me up for the WirePoints newsletter.