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The CTU's Stacy Davis Gates also called for the Illinois state government to increase its financial contribution to the CPS budget by over a billion dollars.
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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Cancel the contract and kick the Teachers union to the curb.
Rauner wanted to bankrupt CPS, then the idiots in Illinois voted for the candidate whose first ads were about eating breakfast.
I demand an audit of the CTU for the last three years too and neither one has happened.
Let CTU pay for the loans.
How about closing the schools that are so empty it’s $93,000 per student?
How about firing the 9,000 people hired during COVID while student count has dropped dramatically and continues to.
All of that would just make too much sense.
Anything you say Stacey
Gosh…can we do anything else for you Ms Gates? Sure, more debt into an organization that cannot possibly pay for it – that makes sense. It never stops. They never take a breath. Constant greed. Constant manipulation. But hey, it’s all about the kids.
Please, just Close it. Fire them all. Start over or don’t – no one would notice.
Harkening back to December 19, 1978; wary bankers refused to roll over renewing CPS bonds and just before the holidays teachers went unpaid and then on strike. Six weeks without pay and no classes forced Jane Byrne to order the police pension fund to “invest” in CPS bonds to settle the strike. Now all the pension funds are broke. Maybe the CTPF can provide the $$$ to finance CPS.
Generational theft is just fine with the CPS. Stacy Gates should send her children to the CPS like thousands of other residents.
Perhaps Chicago’s public schoolchildren would be numerate if the leaders of CPS and CTU leaders were.
Ruh roh. Stacy Gates demands that reality be ignored.
“…They bought their tickets. They knew what they were getting into. I say…let ’em crash.”
Will the village looking for it lost idiot
please come and claim Stacy