Teachers’ strike has huge economic impact on Chicago - KMSP-TV

The strike is having a huge economic impact on the city.

There's a run on red T-shirts at CTU headquarters and they're not being given out for free. Teachers are paying $10 a piece for shirts and $15 for hats-- money that will go into the union's strike fund.

"Every second we're getting donations in, literally from around the world," says Chicago Teachers Union member Stacy Davis Gates.

Union officials won't disclose how much money is in the strike fund, but they say donations have been pouring in from unions throughout the Midwest.

Several months ago, the union advised members to begin setting aside a percentage of each paycheck in the teacher's credit union, just in case this day ever came. Appeals for cash multiply on social media while teachers won't be getting paid.

"Absolutely our teachers have been clear about making sure that they could withstand some financial hardship if necessary," Gates explains

"We don't know how long it's gonna be, says Chicago teacher Iris Marion. "You want to have a worst-case scenario, just want to have enough to cover that worst-case scenario."

While it's nearly impossible to calculate the economic impact of the strike at this early date, experts say there could be productivity losses in Chicago's economy, as parents stay home from work to take care of their kids.

What can be calculated is the amount of cash both sides are throwing into this fight to gain political favor. Since 2005, the Chicago Teacher's Union has donated more than $5 million to Illinois politicians and PACs.

Since 2010, "Stand for Children," a business group which has been battling the union, has donated more than $1.3 million to state lawmakers.