CPS bonds, as well as some of Chicago’s city’s bonds, carry a “junk” rating at some credit rating agencies and the state of Illinois bonds are the lowest-rated in the nation outside of Puerto Rico. CPS faced a $1.1 billion budget deficit for the fiscal year that started July 1. CPS faced criticism earlier this year when it sold bonds at high interest rates essentially to keep the lights on.A mayor’s office spokesman told public radio station WBEZ that the teachers’ union deal was being financed by $175 million surplus from the city’s Tax Increment Financing district funds, with $88 million going to CPS. The average teacher salary in Chicago just tops $74,000, according to CPS data (the CTU has said that number overstates salaries). "The Chicago mayor visited one of 250 contingency centers that gave students a safe place to spend Friday. Chicago teachers denounce contract sellout By Kristina Betinis 12 October 2016 Late Monday night, the Chicago Teachers Union (CTU) announced a tentative four-year agreement with the Democratic administration of Mayor Rahm Emanuel. The average teacher salary in Chicago just tops $74,000, according to CPS data (the CTU has said that number overstates … The gains that the CTU made by mobilizing for a strike will only be protected by keeping up that fight.Rochester, New York, educators are demanding that their pension funds divest from for-profit corrections companies like GEO Group.The key issue for Bluegrass State educators is the ongoing attempts by the Republican-dominated statehouse to gut the pension plan.An Oakland parent of three students talks about the high stakes in the teachers’ strike that brought her back to the picket lines each day.The labor movement can learn something about solidarity from the immigrant women who made tamales for striking teachers.Teachers and students from several Bay Area cities are ready to call in sick to join a solidarity action on the picket lines in Oakland.Rochester, New York, educators are demanding that their pension funds divest from for-profit corrections companies like GEO Group.The key issue for Bluegrass State educators is the ongoing attempts by the Republican-dominated statehouse to gut the pension plan.An Oakland parent of three students talks about the high stakes in the teachers’ strike that brought her back to the picket lines each day.The labor movement can learn something about solidarity from the immigrant women who made tamales for striking teachers.Teachers and students from several Bay Area cities are ready to call in sick to join a solidarity action on the picket lines in Oakland.Two revolutionary socialists from Greece answer questions about the historic victory of the left and the tests that will come soon for the new government.We know the 1 percent runs Wall Street and Corporate America, but their control extends into the supposedly democratic political system as well.Just as there can be no doubt that a climate change disaster is already taking place, there can be no doubt about its cause: the capitalist system.Expect Trump to lead a charge to abandon climate change accords, drop enforcement of environmental regulations and ramp up energy production.Ronald Reagan's presidency in the 1980s emboldened the Religious Right, but a determined movement stood up to the attack on abortion rights.Previously published by the International Socialist Organization.Material on this Web site is licensed by SocialistWorker.org, under a Creative Commons (by-nc-nd 3.0) license, except for articles that are republished with permission. The Mayor visited kids at Eckhart Park, one of 250 contingency sites open so CPS students have a safe place to go. The district was offering a moratorium on new charter schools and layoffs—if enough members (both teachers and paraprofessionals) took an early retirement buyout. But the union preserved the "steps and lanes" system that awards pay increases based on seniority and educational experience.
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