Standard & Poor’s sent Chicago Public Schools’ credit rating deeper into junk territory in the wake of the new $9.5 billion teachers’ contract. The ratings firm said the new contract will make the district’s financial crisis worse.
Many educators are wary of a strike’s hardships and long-term consequences for students, their families and the educators themselves. These teachers can remove themselves from CTU authority and the conflict between union priorities and students’ needs.
Chicago Public Schools officials had an opportunity to enact serious reforms addressing the district’s dire financial condition, but they instead opted to further burden Chicago taxpayers without offering any change.
Until CPS passes necessary spending and pension reforms, giving any additional money to the system will only reward officials’ mismanagement and reckless behavior.
Illinois House Speaker Mike Madigan’s insistence that Chicago Public Schools receive more than its fair share of state education funding is putting any stopgap budget deal at risk.
Creating new special service areas for the sole benefit of Chicago Public Schools would mean hitting homeowners with an additional $100 million in taxes.
Chicago Public Schools CEO Forrest Claypool has claimed that Chicago students are discriminated against under the state's education funding formula. But the numbers show the opposite: Chicago has received more than its fair share of education funding from the state.