Chicago Public Schools are on the verge of being broke, and now CPS brass are gambling on a risky bailout plan.
CPS CEO Ron Huberman can now borrow $800 million and layoff thousands of teachers to pay the bills. Teachers who still have jobs could get a 4 percent pay hike, but some class sizes will go from 30 to 35 students.
Details about Huberman's plan to respond to the "dire financial situation" can be found on the CPS website .
The Chicago Teachers' Union filed a lawsuit to try to stop the increased class size. New CTU President Karen Lewis joined us live, along with Chicago Reader reporter Ben Joravsky.