-- Connecting the dots between our economy, government and business --
CPS is already facing a projected $628 million structural operating deficit in 2025 that Board of Education members have been warning about for over a year. It has long been apparent that many of the city’s school facilities need serious upgrades for healthy and safe learning, with kids often learning among hazards such as lead paint, leaky ceilings, broken floor tiles and deteriorating walls.
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Take it out of the teachers pay budget. They certainly are not worth what they are being paid. Just look at the test scores and failure rates.
The beatings will continue until things improve around here! That’s likely from the Josef Stalin playbook.
I smell a grift. CPS should leverage this opportunity with the increase in public charges. Each rehab needs a taqueria and I suggest that bull fighting become a high-school sport complete with matador uniforms and a bull ring built right next to the football field.
Guantanamera!
Close the schools and consolidate…a statewide problem solved
“All of these renovations are needed as FEWER students
attend CPS schools.”
In bygone days, the usual thing for them used to be to say that
they had an increase in students —- and so they needed to
add on to buildings, etc… — and this could be more
easily justified.
Now, in an ongoing recession, with businesses in Chicago
ravaged by the obscene lockdowns that they imposed
during the plandemic and revenues down as a result, and
with FEWER students attending, these thieves are planning
THIS.
There is just NO END to this lunacy
CPS needs to spend a few billion on schools with enrollments of less than 100 students. Makes sense to me
Time to pay back the Unions for all of their VOTES.
Time for some bake sales at CPS!!
How about using that 14B to build charter schools that might actually educate kids for a change