The Trib begins today’s story on the CPS money crisis this way:
Chicago Public Schools has enough cash to complete the school year but the system is still short hundreds of millions of dollars needed to make a pension payment due at the end of June, Mayor Rahm Emanuel’s top finance official said Tuesday.
But that turns the story on its head.
CPS doesn’t have enough money to complete the school year so they will take it from teachers’ retirement savings.
Rahm and Claypool blame the state. Rauner blames the Democrats and the legislature.
It is Teacher Appreciation Week.
A few quick reminders.
Teachers don’t get Social Security in retirement. We get a pension and we pay our contribution every pay check for our entire careers.
A failure to pay the pension payment by our employers is illegal, but nobody worries about that.
If you ran a private company and failed to pay the contribution into Social Security you would be in violation of federal law, punishable by jail time.
If you see a CPS teacher, thank them this Teacher Appreciation Week.
After all, they will be paying for Chicago schools to stay open the full year, paying with their retirement savings, longer days, furlough days, position cuts and pay cuts.
A “thank you” is the least they should get.