Stop Digging
Three days ago, this report was in the Tribune:
- Illinois' public school districts are roughly $20 billion in debt, a staggering figure fueled in part by decades of special deals in Springfield that have given districts exemptions so they can keep borrowing beyond limits set by law.
Today, that debt exceeds long-term school borrowing in most other states. It equates to about $10,000 for every Pre-K to 12th-grade public school student in Illinois, a Tribune investigation has found.
So what do you think that Forrest Claypool recommended for Chicago Public Schools? Maybe a reorganization? Some renegotiation of certain crooked contracts? A reevaluation of spending practices? Maybe draconian austerity measures?
Hahahahahaha....No! You silly sheep. He's a democrat.....so he said "borrow more money!"
Hahahahahaha....No! You silly sheep. He's a democrat.....so he said "borrow more money!"
- Chicago Public Schools CEO Forrest Claypool on Monday said the district would have to borrow more money to stay afloat, even as he pressed the teachers union to accept a four-year contract recommended by an independent fact-finder.
The district's need for more borrowing goes beyond having to cover a new deal with teachers, Claypool said. "What I'm saying is, to keep the doors open," he said. "Not just to fund the contract."
One certainly has to wonder at the state of his (and others) personal finances where he recommends borrowing when the wolves are at the door.
Labels: money questions, un-fucking-believable
posted by SCC at 12:03 AM
44 Comments:
At what point do you actually stop digging the hole deeper, and you are now starting to dig "up" towards China? The democratic party's way....spend spend spend, borrow borrow borrow, spend spend spend, tax tax tax, borrow borrow borrow. What a joke...except for the fact that it's not funny.
The mind of a democrat. It is always easier to borrow more $$ than to work hard cutting spending and waste.
Time for Leadership.
And sometimes Leadership means making the tough decisions.
Bankrupt CPS and take it to Bankruptcy Court. ALL Contracts - NULL and VOID.
Start from Square One and if the Union doesn't like it, think PATCO. Replace them all. In the long-run, education just might get better in Chicago.
Time to start making real change and straightening out a long-time, crooked institution. Reform is long overdue.
Austerity programs? They've spun out of control a LONG time ago for that to make an impact.
The union doesn't want the 13.5% raise - don't give them anything. Welcome to the Economy everyone has been dealing with for the last decade or so.
If Chicago is to survive, Chicago needs to straighten out a lot of long-term mistakes.
This bullshit is coming to an end .
You better not be without a seat .
Claypool. Tell those Striking Teachers to take a hike. Fire em all. Reagan did it to the Comptrollers. Let the young, newly graduated Teachers have a chance....they have new ideas are aggressive and are darn interesting. Too many of the current CPS Teachers don't want to Teach, they want a gravy train to push them forward until retirement.
The state should take over the schools
Borrow again? What? Did they just borrow AGAIN a little while ago? Amazing! There's no way CPS will survive with this crew in charge. Looks like a strike is coming cause we all know the greedy teachers union won't budge
A City where the majority of citizens are living off the government rather than paying into it cannot be sustained. It's impossible. I truly believe we will see Chicago collapse financially in our lifetime.
His personal finances are just fine. The public tit has been very good to him.
Hey State, here's a clue to help you save money IMMEDIATELY! Vouchers for kids to go to private schools. Yes, we all know it costs between $13,500 - $16,700 per kid in Chicago's schools. This depends on which study you want to believe. Even vouchers of $4000-$8000 for a child would save the city and state millions each year. The problem, the city and state don't want to lose control of that money, nor do they want to lose control of saying want can and cannot be taught in these private schools.
You can still the money being wasted on these "charter schools". Look at the money the city and state would save on pensions, employee's, materials, food, (yes food) and countless others. Oh well, this is just a pipe dream because that A-H Madigan would have nightmares giving away this much power.
Why not? When you're so far in debt you're teetering on bankruptcy or default what makes better sense than to borrow even more money?
Sure, it's worked in the past. The difference now is that no one will lend you money.
When it fails you can just blame Rauner.
Tell Forest that I know a guy, who knows a guy in Melrose Park who will lend him all the money he needs.
Yes, you are correct about the democrats and their constant borrowing instead of real reform, but look at the teachers? Some of the best paid in the country with a great work schedule and they are planning on a strike for more cash. Of course you know, it is for " the children". Most people in this country, even those with a college degree, would welcome a 2% raise every year, a 36 week work schedule , a pension and early retirement. But, it seems it is never enough for our teachers. Maybe they should consider actually educating the children first.
Why should they care? Morons will elect them again and again, no matter what they do.
Just keep kicking the can down the road. A generation of politicians with no sense of accountability to the future. And they wonder why everyone is leaving the state.
The kids need to be in school, but it would be nice if that was paid for by the parents rather than the taxpayers. Particularly the parents who have 5 to 10 kids in CPS. Maybe if the parents were required to pay for school, they wouldn't have so many damn kids.
Years ago the teachers' unions discovered that reinventing how to teach was a goldmine. All they had to do was learn the necessary double-speak and "for the children" and anything was justifiable. Every few years come up with some new technique or philosophy, add a dash of "for the children" and money magically appeared. Of course the quality of education improved dramatically, right? Heck no. It's worse than ever. Along the way, "for the children" turned into "fuck the children" as they became nothing more than pawns to use as leverage in strikes and negotiations.
It's way past time to deliver a big FU to the CTU by any means necessary.
If $20 billion...Billion, in the red is not a sign of mismanagement, then it's obvious that the CPS has been run by a bunch of buffoons. Or for the sake of innocent until proven guilty, thieves. Then there's Byrd-Bennett, a buffoon and a thief. What ever happened to Chunkin' Arnie Duncan, your presidents Education Czar, a dipshit of a CPS executive at best.
Why is it if it don't pay my water bill or gas bill the entity are quick to shut down my utilities? The city hits you with a Late fee when you don't buy your silly sticker or pay your red light ticket.
And then... This tops all.....Asshole Rahm wants $1.5 Billion in borrowing for a friggin fantasy museum for a rich prick who could easily build his own city to house a goofy looking museum.
These are examples of one of Rahms last chances at a Daleyesque Cash Grab, seeking to sell land and collect loan commissions, because things are going to get a lot worse when PrickWrinkles gets her chair on the Fifth Floor.
The best thing to happen is to dissolve the CPS. Bankrupting the system is going to be the only option, because we know the CPS ain't paying they're bills anymore.
It won't be long now,i hope you guys have been putting some $$ away for retirement....don't just count on our pensions being there!
CPS is open this week to feed the students and offer a safe haven, now tell me, are these parent to stupid to feed their own children, are these people to lazy to watch after their own children, and who are you keeping them safe from, the white police? Please let's have a open discussion on race.
In Wyoming our schools are financed by a combination of property taxes, mineral royalties, and traffic fines from the HP. Across the state they have school sections (640 acre squares) from which all the revenue, property taxes, mineral royalties. Our schools are well funded and there are no deficits the only argument we have is where best to spend the money. The school districts only borrow money for new school construction and these funds come out of a State fund for this purpose. The bonds are paid back to this fund with interest so the money stays in the state.
Just make slaves out of people who work for a living and wouldn't send their kids to public school on a bet!
Anonymous Anonymous said...
The state should take over the schools
4/19/2016 03:40:00 AM
Surely you jest. The state is just as bad at paying their bills and borrowing money.
Anyone notice how this Dick Head, Forrest Cesspool bounces around from city agency to city agency and is always praised by the media even though he has never fixed one thing and totally fucked up the park district?
Who's making the loans? Who's handling the bond sales? If it's anything like up in the 'burbs - it's those fucking assholes at PMA.
Follow the money.
Anonymous Anonymous said...
Claypool. Tell those Striking Teachers to take a hike. Fire em all. Reagan did it to the Comptrollers. Let the young, newly graduated Teachers have a chance....they have new ideas are aggressive and are darn interesting. Too many of the current CPS Teachers don't want to Teach, they want a gravy train to push them forward until retirement.
---
So, what you're saying is employees should have no job security, no seniority guarantees and should be turned out to fend for themselves after a few years in their field?
There's gonna be a lot of six-year cops looking for other employment, then, in favor of those 'new, young, aggressive, interesting' cops.
THINK before you spew nonsense.
4/19/2016 02:04:00 AM
Anonymous said...
The state should take over the schools
4/19/2016 03:40:00 AM
Rauner will not budge until reforms are passed by Springfield and he should not budge. Let the CPS go bankrupt, they are the ones that drove it into insolvency. Teachers are very well paid and they always want more and until now, the democratic political class has given it to them in exchange for political donations. Madigan can do what he wants as he has the votes. he can bail out the teachers if he wants. But, he is not doing this. Why? He wants rauner to do it and carry the weight. Pass a state law forbidding any public employee from striking. I am tired of the teachers hold out kids ransom until they get what they want.
But yet rahm is saying that goofy George Lucas wants his star wars museum here and is going to spend 700 million, while rahm wants the state to allow the city to borrow billions in order to give "friends and family" contracts out to help George build his stupid museum! Lets see rahm forrest wants to borrow hundreds of millions to keep pathetic school system open, you want billions for Lucas, the police pension fund is not funded as required by law, the taxpayers backs are broken already next the taxpayers will be fetal also then "no money for you" as you resign (God willing) in disgrace!
I was just reviewing the 500 million For police pension requirement tax increase" rahm the slippery snake put in money to "build more schools" wait a gosh darn minute thief what are you doing with "our money" shuffling it around? The money is for police pensions nothing more correct "treasurer finder" rahm??
Get rid of them all? They could say the same about us police. The teachers are trying to get as much as they can in their contract just like we try to only their union is better at it..lets stay out of the teachers affairs and,concentrate on our own stuff. I dont think its possible to teach the savages that they call students here in chicago. You try to teach algebra to the student population on the south or west side. If your sending your kids through the cps system you are nuts anyway. Do whatever you can to put your kids in catholic/private schools. I did.its the best money i ever spent. Stay safe.stay fetal.
That's Ok Rahm Can pull that 20 Million all of a sudden Out Of ASS too . Like he's done for all other projects . He's also going pull more money out of his RUMP for new Street Lights we hear . Plus last year he made 80 Million with his big NFL Draft Pick Party at Grant Park , This Year there saying hes going to make over 100 million On that,. Barricades are already being set Up at the Park as we Speak , IT ONLY WHAT RAHM WANTS and nothing else. The Ballerina Prick
The city can't or refuses to pay its bills and yet we have this nonsense pay the pension first you raised taxes but wait also rahm you snuck in more for "building more schools" as you close 54 already done! What kind of cheating deal is this mayor? Is the DOJ looking at your office yet? Don't worry when Trump God willing takes office the full power of government investigation will be finally unleashed no wonder you rahm and your minions are pushing so hard for criminal Hillary! She loses she's done also this is going to be great!
4/19/2016 06:32:00 AM
Well stated.
Rauner should do all he can to for CPS into bankruptcy.
The ctu members should be fired, and replaced by new teachers under a new contract.
Blogger Transmaster said...
In Wyoming our schools are financed by a combination of property taxes, mineral royalties, and traffic fines from the HP. Across the state they have school sections (640 acre squares) from which all the revenue, property taxes, mineral royalties. Our schools are well funded and there are no deficits the only argument we have is where best to spend the money. The school districts only borrow money for new school construction and these funds come out of a State fund for this purpose. The bonds are paid back to this fund with interest so the money stays in the state.
4/19/2016 11:24:00 AM
Hey, how are those oil "royalties" doing out there in Wyoming? Not so good I hear.
I wanted to share some advice I just found in The Forrest Claypool Strategy Handbook:
WHEN THE BOAT IS TAKING ON WATER IN THE BOW,
DRILL A HOLE IN THE STERN TO LET IT OUT.
Let the teachers pay their fair share into their pensions and let the parents pay for their kids tuition with some back to Parochial Schools where the nuns won't tolerate some of the kids bullshit!
Good thing we are spending a billion on Star Wars!! This city is a fucking joke!
I've been teaching in CPS for a while now, and the amount of waste I saw during the "years of plenty" at my school was staggering. For example:
1. Thousands of unused student workbooks overflowing the recycling bins at one year's end - produced and provided by America's Choice, obviously the connection of some district kick-back artist who steered the contract their way. My school didn't want or ask for these materials. The district decided we needed them and they were useless. ("Draw a picture that represents what you are thinking about as you consider solving an equation.")
2. District staffers employed to conduct school "walk-throughs" - dozens of dressed-up, important-looking business types walking around the halls and poking their heads into classrooms with iPads, apparently for the sake of walking around looking important with an iPad
3. Book contract with the most expensive bookseller, Barnes and Noble. Want to put in an order for some really cheap books on Amazon? Sorry! Only Barnes and Noble, because some kickback artist engineered an exclusive contract. (This one still applies)
4. Purchase of hundreds and hundreds of expensive Dell laptops with no anticipation of having to maintain them. So when they break, they get thrown out.
5. Thousands of expensive "instructional coaches" placed in schools to assist the "development and implementation of curriculum." Things that these coaches are unable to do: teach, grade, discipline, make copies, fix broken computers, keep internet routers working, or contact parents. Useless!
And now Claypool needs to borrow to keep the lights on. Go figure.
Anonymous Anonymous said...
Rauner should do all he can to for CPS into bankruptcy.
The ctu members should be fired, and replaced by new teachers under a new contract.
4/19/2016 06:52:00 PM
Unfortunately,he wants to replace them with new teachers that are non-union and have no contract.
And that's just the beginning.
Let the teachers pay 9% into their pension and pay more for their health care-like everyone else does.
The bond rates are through the roof now for the poorly run state agencies. I think about 8% now and probably up to 12% in the next year or so. Keep kicking the can down the road dumocrats. One of these days the circling the bowl is going stop.
Anonymous said...
Let the teachers pay their fair share into their pensions and let the parents pay for their kids tuition with some back to Parochial Schools where the nuns won't tolerate some of the kids bullshit!
4/20/2016 12:41:00 AM
Agreed teachers work at most 8 months a year get paid more than coppers yet put in 7% or more less into their pension funds, it is time for them to pay in their fair share if not abolish their pensions give them the money they paid ion, they are so "educated" let them figure it out! So tired of the teachers and their anti-police attitudes disgusting!
Anonymous Anonymous said...
Let the teachers pay 9% into their pension and pay more for their health care-like everyone else does.
4/20/2016 07:25:00 AM
You kind of sound like the people who say "put the police in social security like everyone else".
And just curious, all the schools Emanuel shuttered...what happened with all those properties? Any of them sold? Are they just empty buildings? Who pays the taxes on them?
Something stinks-again and as usual-if it has to do with Emanuels wisdom (lack of?) like the Lucas museum and billion dollars needed for that clusterfuck. Put it next to obamas library! With a row of outhouses at one end....
Okay, I'm done for the night.
Be safe CPD AND BE VIGILANT! You guys and gals are the heroes!
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