Submitted by Michael Shedlock via MishTalk.com,
Chicago teachers have a 13% raise (over four years) offer on the table, but that is not enough. They set a strike date of October 11 because the city wants the union to contribute more than 2% for their underfunded pensions, among the worst funded pensions in the nation.
The Chicago public school system is bankrupt. Its bonds are deep in junk status.