Who Needs Greece When You've Got Chicago?

The "internal contradictions" of socialism are now becoming distressingly external. Surprise!

The Chicago Board of Education made its pension payment on schedule Tuesday, but at a cost — massive layoffs. The meet the $634 million obligation, the board used a combination of borrowed money, $200 million dollars in cuts and layoffs it promised before talks with the Chicago Teachers Union broke down last week.

The board is expected to lay off 1,400 employees, and Interim Schools CEO Jesse Ruiz said in a statement that classrooms will be impacted. “As we have said, CPS could not make the payment and keep cuts away from the classroom,” he said.

And we think the Greeks are dumb, spoiled children. It never seems to occur to the "public-employee" racketeers that they really can't have it all.

Mayor Emanuel said Tuesday that schools would open on time this fall, but he refused to discuss what classrooms would look like when they did.

CTU vice president Jesse Sharkey told reporters late Tuesday evening that news of the layoffs, “is dismaying news. It will have an extremely harmful effect on students who are disproportionately poor, students of color that are in Chicago Public Schools. These policies are the direct result of a long-term policy of fiscal mismanagement by Mayor Emanuel’s handpicked board."

You voted for it, Chicago -- enjoy it.