Chicago Crowd-Out: How Rising Pension Costs Harm Current Teacher
May 24, 2016 | By Manhattan Institute |
Since the 2008 financial crisis, U.S. state and local governments have faced significant fiscal challenges, and a few jurisdictions—Detroit, most notably—have filed for bankruptcy. The worsening financial crisis of the Chicago Public Schools (whose budget, as well as its taxing authority, is separate from that of the city) poses a threat to the welfare of 26,261 current teachers and 396,683 students.
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