Posted on 02/16/2016 8:01:53 AM PST by reaganaut1
No excerpt allowed from Bloomberg, story here.
Unfortunately, bankrupting the school system will neither shut it down nor make the single change which would revive it, banning the unions. They will just throw more money at it and nothing will change.
One of the strengths of the Constitution vis a vis the Articles of Confederation was that the former forbade the States from printing money (as governments are prone to do when the public sours on more taxes).
One of the gravest faults of the Constitution was to not put that same restriction on the Federal government itself.
One of the reasons Chicago and IL are in such a mess is that the establishment really believed that Obama would give them FREE MONEY just because he was from there. Well, he gave FREE MONEY to Wall Street types, and to Solyndra types. But he pretty much forgot the kids. Now where do the Obama kids go to school?
Just how much do teachers get paid 20 years out of the classroom? I’ve tried to find out, having several ones in the neighborhood younger than me, retired and all appear to have no shortage of money. This isn’t Chicago, but just the same...
the last posted financials were for 06/2015 and shows assets totaling 10 billion +.
if it’s 9.6 billion short, is there enough for boomer teachers to retire ?
which is why if you can make your income look smaller and pay less taxes its well worthwhile....and infact its your duty...
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