Under former Gov. Jim Edgar’s pension ramp, unfunded pension liabilities have increased nearly $100 billion despite taxpayers contributing $16.4 billion more to the five state-run pension systems than required under the Edgar plan.
Several instances of corruption and mismanagement of public property and trust came to light in March and included new developments in cases involving Chicago Public Schools’ former CEO Barbara Byrd-Bennett and former Gov. Rod Blagojevich.
The union’s one-day strike is an illegal, aggressive political power play, and its attempt to coerce its members to participate violates its own constitution. Here’s a breakdown of the timeline, the law and the political statement the union is making.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.