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Chicago School Board Passes Unbalanced Budget Hoping For State Help

(CBS) -- Chicago's finest were put to work at a school board meeting today as well.

Paramedics called in to help a protester who passed out. The woman is one of the hunger strikers trying to save Dyett High School.

Meanwhile, the school district itself needs rescuing. The board passed a budget Wednesday, but CBS 2's Dana Kozlov reports it's not exactly balanced.

It's a budget based on borrowing and hope. But now, CPS' financial doomsday clock is actually ticking.

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"It is a budget that keeps us going today," said Chicago School Board President Frank Clark. "It is not a not sustainable approach long term. We all know that."

The Chicago School Board passed the controversial budget with a $1.1 billion hole and the hope state lawmakers will give CPS at least $480 million in pension relief.

"We need the state of Illinois to step up and do the right thing when it comes to pensions and education funding," said CEO Forrest Claypool.

It's something officials have been stating for months, with no promises from the governor or Springfield.

If that state help doesn't materialize, CPS officials are very clear: the already deep cuts to schools, teachers and staff will get worse by late fall.

"While many of these cuts are painful, we are doing everything we can to keep cuts away from the classroom," said Ginger Ostro Chicago Public Schools CFO.

The current cuts have sparked protests and calls to raise revenue from all sides, revenue in addition to the current property tax hike, where Chicago homeowners will pay another $19 a year on a $250,000 home.

"I hope they come to their senses," said Chicago Teachers Union vice president Jesse Sharkey. "I hope they start telling people the truth. It might be hard to take, but we're going to have to tax the rich. We're going to have to find some way to fund public schools."

Now, it's a waiting game. Today, Governor Rauner's spokesperson says he's already presented a plan that would help Chicago and districts in the rest of the state. One component of that has always been Chicago teachers contributing more to their pensions.

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