The editors of the Wall Street Journal remark on the Chicago teachers’ strike:
The teachers union has enlisted custodians, bus drivers and security guards to join its strike in solidarity. “We’re about to teach the new mayor a lesson,†American Federation of Teachers president Randi Weingarten declared at a labor rally on Monday. For taxpayers and parents, the strike is a lesson in what happens when public unions run the government.
Mayor Lightfoot is not handling this situation the way I would have but I guess that’s why she has an office in City Hall.
Chicago’s credit rating is already the lowest of any major city—teetering on the verge of junk. The Chicago Public Schools’s credit rating is likewise the lowest of any major school system. If the city or the schools borrow more they are incredibly likely to have those ratings further reduced which will make it literally impossible to borrow. Every billion of additional commitment will need to come from additional taxes. That will drive more people out which will increase the burden on those who remain. It’s a vicious circle from which the escape lies in a direction it would require political courage to take. I’m guessing the circle continues.
