Number of half-empty Chicago public schools doubles, yet lawmakers want to extend school closing moratorium – Wirepoints
April 19, 2024
18 Comments
A set of state lawmakers want to extend CPS’ current school closing moratorium to February 1, 2027 – the same year CPS is set to transition to a fully-elected school board. That means schools like Manley High School, with capacity for more than 1,000 students but enrollment of just 78, can’t be closed for anther three years. The school spends $45,000 per student, but just 2.4% of students read at grade level.
Hopefully, all media will get the message, in Illinois, too.
Ted joined Tom Miller of WJPF to talk about Illinois’ highest-in-the-nation property taxes, why lawmakers don’t want to touch the tax’s cost drivers, just how much Illinoisans’ tax burden has grown over the decades, why Gov. Pritzker failed to meet his promise to reform property taxes, and more.
As I always ask … timelines please … prediction time. Go.
When does the Fed say, “sorry, the window is shut?” There is zero chance they are getting paid back anytime soon. What are the strings attached to the loans? Do these loans supercede other loans? Would be interesting to know since this hasn’t ever happened at this scale before.
I have heard a 3 year payback window.
It is smart for IL to load up on as much free money as much as possible before the default. I don’t think we are heading towards a bankruptcy.. We are heading for a hard default. The rest of the country are a bunch of suckas for giving it to us.
You mean IL is just going to give it all up? What exactly is your thesis, I’m interested. Thanks.
When you say “the rest of the country”, you really mean Republican states. All democrap states are broke.
Face it, the smart ones already left IL.
The fed needs to kiss this money goodbye.
That ship has sailed — the Fed had already took over 4 trillion onto their books via QE following the 2008 crisis, and it stayed there. Illinois isn’t the only house of cards you have to worry about.
Honest question: given this is a loan where does this loan rank in terms of priority in the capital stack? Ahead of bondholders and/or pension holders? If I were them I would not be too happy about getting primed…
The only state to borrow sad so extremely sad, judgement day is forthcoming for this states politicians and pensions game over boys and girls.