"I got accepted to Chicago's MAPSS last year, as well as a mid-level PT program and declined both rather than use the MAPSS to boost my app for this year (where am I going to come up with $45,000?)"
MAPSS is def. not the same as CIR and the OP has said he got half of a full-ride to Chicago so I don't know how he would be used as a "cash cow". I wouldn't go to Georgetown, if you want to enter academia, you probably want to go somewhere much higher ranked and not to a school that is known to be a degree mill. With a Chicago M.A. this might actually be possible (the Chicago brand name by itself will carry you further than a Georgetown PhD), look at the placement that Chicago CIR has in top PhD programs...it's actually pretty impressive. A friend of mine applied to PhD programs two years ago, he got only into two schools (medium-ranked schools), he decided to go to Chicago, did well and he got admitted to UPenn and started his PhD in political science last year. And for the record, there's nothing wrong if the OP feels like he deserves to go to a better school, academics are prestige-whores...people should get used it.
PS: CIR is a 1-year program, not 2.