Posted on 07/01/2015 7:21:31 PM PDT by Olog-hai
Chicago school and city officials detailed $200 million in cuts—including layoffs, scaled-back maintenance and reduced transportation—to the nation’s third-largest school district Wednesday, one day after the district paid a $634 million pension bill officials said it couldn’t afford.
Mayor Rahm Emanuel said schools would still open on time in the coming school year and class sizes wouldn’t be affected. He put the blame on state legislators for worsening the situation and said a property tax increase was up for consideration.
The district had to borrow and factor in the cuts to make the pension payment by Tuesday’s deadline because legislators, deadlocked over a state budget themselves, rejected a proposal calling for an extension to give school officials more time to come up with a longer term solution. …
(Excerpt) Read more at bigstory.ap.org ...
one day after the district paid a $634 million pension bill officials said it couldn’t afford.
You can’t afford not to also as it will just grow. You need to pay your bills or you will be worse off. These government officials have no responsibilities to their debts. He was probably hoping to pass it along to the next person. As things go, the only ones in America that will be well off are the postal service who has been extremely responsible by ensuring that their workers are taken care of 75 years from now. Too bad everyone doesn’t do this.
That may be true, but the pensions will be ok because that is the first thing that they pay for which I think is great. It is pitiful that companies and government agencies signed people up and said they were going to get this and this and then they didn’t put money aside for the work that they did. Private companies are just as bad as government agencies.
Oh please.............
Which napsC is this?
Actually it is Bob tonight. And I mean it. I can’t believe that you think it is ok to lie to your employees. I know you are conservative and conservatives don’t typically agree with liars.
Are you drinking?
OK, this is getting as nonsensical as your pro-Cuba posts. I guess if you don’t start making sense I’ll just have to ignore you.
Private companies are just as bad as government agencies.
That's B.S....and sounds like something a LIB would say, Bob.
Sounds like the one that was all for restoring diplomatic relations with Cuba a few months back.
“Companies promised workers” or unions strong-armed companies? Leaving out a particular dimension results in a distorted picture.
Well definitely unions didn’t help matters much that is true.
You really don’t understand things...do you Bob?
Are we looking like Greece X 100 yet?
Apparently not. I guess that is why I am here....to learn from those better then myself on these issues like yourself. I have been here almost 10 years and SERIOUSLY learn something new everyday.
The dirty secret is that half of the government employees would be laid off today if their retirement benefits had to be funded as they worked; those future costs are killing NJ, and nobody in their right mind would open a business or build a new home here. You would just be buying into a massive IOU; just as retiree costs make it difficult for American car companies to compete with foreign car-makers, being burdened with the costs (present and future - they just want the focus on the short-term present salaries) of our workfare workforce make some states much less attractive than others.
I have no sympathy for the government workers (because we are expected to pay for those debts, and I never hired one of them myself). They knew their position was untenable, and funneled our taxpayer dollars to Dem candidates to keep the gravy train rolling...
Wow, Rahm has laid off more school union employees and reduced the union budgets than Scott Walker, but you’d never know, would you...?
And that’s a city versus an entire state.
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