The Federal Reserve announced unprecedented plans to directly purchase up to $500 billion in state and local government bonds. States with poorly managed finances, such as Illinois, stand to benefit most, but long-term threats loom without structural reforms.
The Illinois Federation of Teachers in 2021 spent 190 times more on Chicago-area teachers than it did on teachers south of Interstate 80. That could be why IFT membership has shrunk nearly 18% since 2017.