"The ultimate result of shielding men from the effects of folly is to fill the world with fools." - Herbert Spencer, English Philosopher (1820-1903)

Thursday, February 22, 2018
I'm surprised when I see it, but every now and then, the Huffington post actually provides hard hitting information that shines a bright light on the left side of the world.

Basically, the Chicago Public School system isn't too far behind Detroit's schooling situation. A couple of years back, the CPS was over $750 million dollars in debt and had to have the city issue an emergency bond drive to the tune of $500 million putting the overall debt around $1.3 billion dollars. The bonds had to pay a high interest rate due to the timing and situational debt. After only a couple of years, they're already struggling with cash reserves just to make current payments.

What really sticks out in this article, is they are $9.2 billion dollars behind in making payments to the teachers pension fund. Man, what a great gig if you can get it, on top of being some of the highest paid teachers in the land, getting an extra 7% annual kicker to your pension. Well, CPS is now in such bad shape, they are considered "junk" status. What an awesome example of politicians giving away other peoples' future money for current day votes.

You heard it here first: The gravy train is about to come off the tracks

In closing, let's not forget... When sitting at $750 million in debt and before the late summer bond drive, all teachers were given a two week "offsite" in Las Vegas.

READ THE STORY (way to go HuffPo!)

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