The Chicago Sun-Times reports on the coming pension problems in the City of Chicago:
A pension time bomb that began ticking when lawmakers gave Mayor Daley control of city schools in 1995 is finally due to explode at the end of the next school year, when new teacher pension costs will triple overnight, to $69.4 million.
Does anyone at Moody's or Standard and Poor's really believe the numbers Chicago gives them to get a bond rating??? In other news about Chicago's declining school age population,
The Chicago Tribune reports:
in the last two years, the system has lost 20,000 students and expects to lose 7,000 more next year.
The great urban comeback described by many is nothing more than an outright lie.
