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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 big picture CTU end game–besides 2,534 CTU member teachers hired during COVID, are or will the added 3,563 “School Support Staff & 3,012 “Admin and City Wide Support Staff” become CTU members as well, per recent WP article? All made possible with one-time COVID-ESSER funds? Will CTU try and include in new contract that support & administrative staff become CTU members?
Here’s an article about Brandon.
https://www.yahoo.com/news/chicago-mayor-terrible-horrible-no-163000432.html
Nice Article. Illustrates the stupid decisions made about a great many things, especially the COVID money. You do not need to be a highly educated arrogant PhD to figure out that one-time money is for one-time things and should not go to funding operating costs and expanding the on-going financial liability of the organization. The CPS executives who decided this was the direction to go, should be immediately fired. Close it. Fire them all. Sell 1/2 the properties. Start over – or…don’t.
It’s like a piano, except there’s only a single key. Hit it and you get the same note over and over again. The Executive Directors at the RTA/CTA/Pace/Metra spent themselves into a hole. The intrepid management team at CPS did the same. Which taxpayer-funded group will be next to cry out for more taxpayer succor? IDOT? IDOR? ILSOS? ILDPR? WBEZ? WTTW? If an executive in the private sector pulled stunts like these cunning urchins, they would be put in irons and prosecuted. The otherwise useless Chicago Media would decry the crooks’ deeds far and wide. What happens to the political… Read more »
From Capfax short Q&A, even JB’s saying CPS has to make cuts (“efficiencies”) after the way the “one-time” COVID $bucks$ were spent to increase CPS budget:
(https://capitolfax.com/2024/10/21/pritzker-rules-out-immediate-state-action-on-cps-promises-more-money-for-k-12-next-year-but-says-past-cps-spending-means-theyll-need-to-find-efficiencies-within-the-budget/)
It’s also amusing that even the capfax crowd has had enough of CTU/Brandon & crew
Big picture, JB knows if CPS (CTU) gets state taxpayer bailout to make permanent all those new hire (CTU, SEIU & others?) made possible with one-time COVID-ESSER funds then all the other +852 school districts will be demanding the same. Not to mention all the other crazy 7,000 units of gov.
So Johnson has money salted away in the “City Development Fund” that he says might not be enough. None the less Johnson has money but seeks outside money to preserve his other monies for who knows what reasons? Well spend the money you have because we, at the State level, are tired of paying taxes to support Chicago including the school system that produces failures after failures. You have the money at your disposal Johnson and we have paid enough
Typical of Illinois government. Blame each other while doing nothing to address structural budget deficits. It’s why so many continue to leave while others make their plans to do so. And yes, people are leaving no matter what the Master of Denial and his minions say.
Why can’t CPS simply tell the public how much $ all new permanent or expanded programs, hires, etc that have been created with COVID funds will cost to keep going as funds run dry? Ditto for all city departments, state, and crazy 7,000 units of gov, etc. Simply have the cojones to at least present the bill to dopey tax payers…and no pol or press asks. Simply unconscionable.
I can’t believe this will not become a dominant issue for all state & municipal governments in near future.
Yes CPS is now broke because of all those non-existent children that require so much more money to educate. Now what? Who do they steal it from next? The feds. The state. The city. City’s broke. The State is broke. Federal government will not give more money unless the senate, house and presidency are all democrat. Two choices left. Create a new federal “crisis” to get the feds to print more money and create higher inflation or (here it comes) raise taxes. You my friends are the piggy bank that just keeps on giving. And you will willingly shell it… Read more »
Zero based budgeting for CPS… Every one of the city officials who has any relationship to CPS needs to be held to the same standards as any private enterprise. Until we do so, we will continue to see ill prepared, uneducated students and massive waste of residents tax dollars.
CPS is more of a real estate holding company than it is a vehicle to teach.
But, no one is really prepared to have a pragmatic discussion about its failures.