This year the CPS found itself confronting a $665 million deficit. Its solution? Raid the entire reserves of more than $400 million. With the reserves now empty, that move cannot be repeated. And CPS faces an even larger deficit during the next school year. Mayor Emanuel had the chance to make things better, to improve the fiscal footing of CPS, and to give students a better education. He blew that chance.
A crisis wasted: Rahm ignores his own advice
September 26, 2012 By