Number of half-empty Chicago public schools doubles, yet lawmakers want to extend school closing moratorium – Wirepoints
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.
According to Angelo Codevilla, while self-identified democrats say the democrat party reflects their values, most self-identified republicans (and independents) say the republican party DOES NOT. The republicans in IL are just Democrat-Lite, so the author’s claim that the pension clause was “bipartisan” is far less meaningful than meets the eye. The orgy of love for bonds can’t last forever. The moment bonds enter a bear market, the rush for the exits should rapidly turn into a stampede and the result will be BONDFIRE. Since money is debt, monetary wealth is nothing but IOU’s. There exist perhaps a quadrillion dollars of… Read more »
When IL defaults on the promises of future cash flows (pensions) to retirees, that is synonymous with defaulting on debt.
Bet me that when that occurs (and it will), defaulting on debt will be a national pastime.