Wednesday, August 25, 2021

Despite $22.7 billion pension shortfall, Chicago Public Schools to add 2,000 employees

Wirepoints reports:
The fiscal insanity at Chicago Public Schools continues. Officials there plan to hire another 2,000 part-time and full-time workers this coming school year, never mind the district has racked up the biggest pension debt of any school district in the country. Moody’s already puts CPS’ pension shortfall at $22.8 billion, more than any other school district in the country.* More workers mean more salaries and even more pension debts.
There's more:
To make matters more insane, those same officials warn the school district could lose up to 100,000 students this coming school year – about 29% of the district total – as a result of the multi-pronged crises facing Chicago. Those student losses would be on top of the 95,000 the district already lost between 2000 and 2021.
Chicago used to have 580, 000 children in its' government schools in 1968. When government workers can vote : these things can happen.