Chicago school district deficit for 2010-11 is $1 billion

From The Chicago Tribune: Chicago Public Schools chief Ron Huberman says the system is facing a deficit of up to $1 billion next year that can be reduced only through a combination of pension reform, union concessions and job cuts. Huberman has announced another three weeks of furlough days and 500 more layoffs for nonunion staff to better position the district for next year's deficit.