Is the nation’s third-largest school district in danger of collapse?

The Washington Post reports:

In September 2015, the Chicago Tribune ran an editorial that wondered whether the Chicago Public School District would collapse under the weight of its mind-numbing financial problems. It hasn’t yet, but money mismanagement, inadequate funding and failed education policy are combining with a host of other factors to raise the issue of whether the nation’s third-largest school district is in existential danger.

The governor of Illinois is fighting with the mayor of Chicago over funding; the mayor is in a long-term fight with teachers over a controversial pension system, charter schools and other issues, and many parents remain furious with the mayor for closing dozens of traditional public schools three years ago while promoting the expansion of charter schools. Teachers are working under an expired contract and may soon stage their second strike since 2012, when their week-long walkout had public support.

Dozens of principals, including some from the district’s best schools, have decided to leave, but those who are staying were warned recently that they could see 39 percent cuts in funding. That goes for teachers, after-school programs and enrichment programs. Chicago public schools, long in dire financial straits, face a budget deficit of more than $1 billion and must contribute $676 million to the Chicago Teachers Pension Fund by June 30, which, the Chicago Sun Times says, would leave only $24 million in the district’s coffers.

The grand failure of government schools in Chicago!