Mayor Lori Lightfoot was accused Tuesday of “defunding” the Chicago Public Schools by declaring another record tax-increment-financing surplus to generate a $189 million windfall for CPS, but snatching back $55 million of that money by shifting pension and crossing guard costs from the city to the schools.
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Our Public Pensions In Crisis
With interest rates in the US falling to nearly zero, the fate of underfunded public pensions has only gotten worse.
‘Plenty of Ways for Illinois to Hit Junk Pretty Quickly’ | Alton Daily News
The latest report on Illinois’ finances from Fitch Ratings tells a public finance watchdog the state is on the verge of junk credit rating.