- Chicago’s newly constituted Board of Education voted unanimously Wednesday to authorize up to $1.2 billion in long-term bonds so the district can pay for ongoing capital projects, fees on past borrowing and some costs of refinancing old debt.
That’s on top of the $1.1 billion the board approved last month in short-term lines of credit — and it won’t stave off about $200 million in cuts and 1,000-plus layoffs the district already announced.
You know what they say - if you owe the bank a million dollars, you have a problem. If you owe the bank a billion dollar, the bank has a problem.
That being said, you don't cure a money problem by giving the CPS more money any more than you cure an alcoholic by plying him with moonshine.
That being said, you don't cure a money problem by giving the CPS more money any more than you cure an alcoholic by plying him with moonshine.
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