In the midst of Illinois’s worsening pension woes, here’s one egregiously odious example of abuse: a retired union lobbyist spent one day as a substitute teacher, and is now receiving a pension for it (at $31,485 per year) thanks to pals in the state’s General Assembly. The Chicago Tribune outed this arrangement back in 2011, whereupon the state reduced his benefits, but—get this—the man is now suing on the premise that the reduction was unconstitutional under state law, and if he wins, he’ll see his benefits increased. That’s on top of the other state pension he has from a job as a legislative aide.If you've ever heard it suggested that it would be a better world if teachers were paid at the rate of professional athletes, this would be a way to make it happen.
So where does the money come from? Excellent question, since Illinois has a 12-figure pension liability -- over $100 billion -- that it's not going to be able to cover. Do you think the feds (meaning you and me and some dude in Fort Wayne) will come riding to the rescue? Not when the federal debt is in the trillions.
There is a solution:
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| Six signatures on the bill -- that should do it |
1 comment:
Technically, that's 50 million Reichsmarks, not Deutschmarks. But that said, I feel bad for Illinois. Not that they haven't earned it, but they can't mint money, can't tax the rest of us, can't declare bankruptcy....gonna be ugly when the fit hits the shan.
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