Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
For decades here in Illinois our Schools have had a “spending” problem – not a funding problem. And the spending is always on their salaries, benefits and expense accounts (ie. wining and dining, throwing parties for themselves, gifts, etc – celebrations) It has not been for the education of the children – as is evident with the US placing 25th in academics. Parents and taxpayers have finally woken up – but look at what it took.
Wish vvsd365u would learn from this, but they love to spend spend spend, no accountability for this school district.
Dist 205 in Rockford will never do this. Too many raises /bonuses/pension spikes (Dist 205 is #1 in state for pension spikes and penalties) and administrative bloat to take care of.