The Chicago Public School system's (CPS) pension fund is "essentially a Ponzi scheme,” according to CNBC on-air editor Rick Santelli, who called into “Chicago’s Morning Answer” radio show recently.

The Northwest Side GOP Club's "We-bellion Bash" fundraiser at its new headquarters was meant to bring in donors to support the organization's activities, but it also attracted a group of detractors.

The Chicago Public Schools (CPS) system faces a $1 billion budget deficit, and the number of options available to pay that debt are shrinking.