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Friday, July 11, 2014

Mike Klonsky's SmallTalk Blog: Byrd-Bennett's Folly

Mike Klonsky's SmallTalk Blog: Byrd-Bennett's Folly:



Byrd-Bennett's Folly


WHO BESIDES THE MAYOR and BBB thought this was a good idea? 

When CPS officials first announced the plan to borrow two months' worth of revenue from the 2015-16 school year to pay for 2014-15 expenses,Catalyst reported on the plan with skepticism and incredulity. Now the Tribune does the same:
The money grab would be a "bridge," they said, to "help us get to structural reforms." Among other hopes, they were hoping state lawmakers would save the district money by reforming public pensions.
What looked like a bad idea in April no longer looks merely bad. It looks like an all but certain path to financial catastrophe for Chicago's public schools — a catastrophe conveniently postponed until after the 2015 city elections.
With the latest version of pension theft apparently off the table, it seems the mayor's team would rather pMike Klonsky's SmallTalk Blog: Byrd-Bennett's Folly: