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:
