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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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ACT average score of 18, for CPS teachers. No wonder CPS academic performance is so mediocre; CPS primary mission is employment of those CPS graduates otherwise not employable in white-collar positions within corporate businesses who require a modicum of academic achievement and demonstrable work-ethic.
The dumb teaching the dumber. A recipe for failure. Bust CTU now. School vouchers for all. Plus, Thanks to Janus ruling all CTU members can opt out of the terrorist organization that is CTU.
Its all about union membership levels, not anything to do with teaching.
I googled CPS student teacher ratio and per Wikipedia CPS already has a student teacher ratio below national average of 15.8 vrs national average of 16.00. What will student teacher ratio be in the fall when tens of thousands of kids don’t show up in the fall? What will student teacher ratio be if CTU gets its demand for 4,000 new hires? but on top of all these absurdities of over staffing, as any CPS parent can attest (myself some years ago), with all the contractually allowed vacation days, sick days, training days, etc and on and on into infinity,… Read more »
That “hold harmless” provision in the Equity Based Funding formula is coming back to bite everyone outside of Chicago. The authors of that legislation knew damn well CPS enrollment was going to tank for years and lead to decreased funding per student, so now we’re siphoning education dollars away from other growing and needy school districts to prop up one shrinking school district. It was a feature, not a bug.
Exactly right. It was a huge give-away to Chicago.
Not only your good point of enrollment dropping, but many expiring TIFs coming up were going to reset Chicago taxable EAV upward and diminish the State funding for ‘tax-poor’ districts like the Gold Coast.
Very transparent good timing for Chicago courtesy of Springfield.
The problem is ISBE treats CPS like its Ford Heights. It’s not. Chicago has access to billionaires and a thriving commercial and industrial tax base. CPS’ enrollment, mostly poor AA and Hispanic, does not reflect the actual population of Chicago, which is one-third white and many upper income DINKs. Schools in Lincoln Park should get the same amount of state funding schools in the North Shore get, which is basically nothing. I’m tired of bailing them out.
Makes perfect sense. Why not build some new schools for oppressed children and victims of systemic racism. Our at risk youth deserve whatever everyone else has worked and paid to build. Great, more teachers to stay home and get fatter.
Chicago homeowners are complacent because they have not yet experienced the stunning and devastating loss of property value which is directly correlated to high property tax rates. (Property tax rate capitalization). Property tax rates in Chicago are kept artificially low by various clever mechanisms (such as TIF artificially decreasing EAV thus increasing State school funding shares, and alt-rev bond debt). But this requires collar county taxpayers to make up Chicago’s deficit, and Chicago is running out of such idiot/collusive neighbors to bugger. Woodstock is the Case Study for Illinois textbook local-taxpayer-resource strip-mining. But at some point the mine is stripped.… Read more »
True Chicago has been just above 1% of total value now approaching 1.6-1.8%. A home across from my sisters (Lincoln Square) is valued at $1.5M and taxes are $24K but in Rockford taxes would be approx $66,000 or just over 4% of value. Yet on the other side of Rockford right next to public housing there is a home(s) paying less than $1K/yr with a value of $21K same value as in 2003 but I pay $7,100. Kicker is I get the same school-fire-police-parks but pay 7 times more for the exact same services. No appreciation (mostly depreciation) other than… Read more »
Right. Because Chicago Public Schools have nothing to do with education and everything to do with employing people who can’t get hired anywhere else. CTU are parasites on Chicago Bust this union now.