* Mayor Rahm Emanuel explains why he signed off on a school budget that uses 14 months of revenue for twelve months of spending…
He argued that he had no choice when Illinois ranks 50th among 50 states in school funding and Chicago Public Schools has a pension crisis that still has not been solved.
“Chicago taxpayers pay for the pensions of suburban and Downstate teachers and their own teachers. We should be part of that system so Chicago taxpayers are not bearing the burden of pension costs twice,” the mayor said.
“So, the solution to this is working with Springfield to get the resources we need….The state has to be part of the solution on the fiscal side.”
Hmm. Barring more state cash (and there isn’t any), could they fold the city’s school pension fund into TRS?