Chicago Public School System On The Brink.CPS will make $676 million teacher pension payment, then what?

The Chicago Sun-Times reports:

The Chicago Public Schools will make a $676 million payment to the Chicago Teachers Pension Fund due Thursday even though that massive payment will leave the nearly bankrupt school system with just $24 million in the bank.

“Chicago Public Schools will make that pension payment. . . . In the last two years, the city of Chicago has made more pension payments to the Chicago Teachers Pension Fund than the preceding 15 years. Payments weren’t made by Springfield or anybody else, and that was wrong,” Mayor Rahm Emanuel said Monday.

Less than 2 days of payroll in the bank!