WATCH: Chicago Teachers Union President Stacy Davis Gates tells attendees at the Netroots Nation conference, “you have to create the crisis by which the boss…the government can no longer ignore you.”
Gates and Chicago Mayor Brandon Johnson are now pressuring Chicago Public Schools board members to approve around $200 million in junk bonds at the Aug. 28 budget vote.
The schools’ chief budget officer says this borrowing would trigger a “downward spiral” of more credit downgrades, higher borrowing costs, and cuts to the classroom.
But the CTU and the mayor see creating this crisis as leverage to demand more money from Springfield.
It’s like setting your house on fire and hoping the insurance pays out.
———
Chicago’s pension crisis is heading for a Detroit-style collapse