Chicago teachers have a 13% raise (over four years) offer on the table, but that is not enough. They set a strike date of October 11 because the city wants the union to contribute more than 2% for their underfunded pensions, among the worst funded pensions in the nation.
The Chicago public school system is bankrupt. Its bonds are deep in junk status.
If mayor Rahm Emanuel had any brains, he would be begging Governor Bruce Rauner and House Speaker Michael Madigan for legislation that would allow municipalities and taxing bodies the right to declare bankruptcy.
There are two words that describe the current state of affairs: Greed and Corruption.
What follows is a guest post courtesy of Union Watch.
No comments:
Post a Comment