The latest Debtwire Municipals Muni Lowdown podcast features Managing Editor Paul Greaves discussing public pensions with Justin Marlowe, Professor at the University of Chicago’s Harris School of Public Policy and Curation Editor Stephanie Fagnani.
Justin begins the podcast by providing a brief overview of challenges faced by Chicago Public Schools (CPS) over the decade and how it connects to the current situation with CPS.
Justin follows up with an analysis of why, despite its troubled history, why CPS bond trading has experienced surprisingly little negative impact and whether there exists potential for deterioration moving forward.
Justin segues the discussion into CPS’ perpetually underfunded pension liability and whether that presents a significant problem moving forward.
The conversation shifts into a comparison of the factors that led the City of Detroit to file for municipal bankruptcy versus the current hurdles that Chicago must overcome.
Justin concludes with thoughts on why despite Chicago Mayor Brandon Johnson’s labor union background, the relationship between the city’s teacher’s union and the city remains strained.
