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The state of Illinois, the state of California, probably most other states, too, all in the same bad situation. If you look at the budgets for school districts
by ataturk 8y ago
The state of Illinois, the state of California, probably most other states, too, all in the same bad situation. If you look at the budgets for school districts, same thing--a lot of $$$ going to pension obligations, starving the rest of the organization. Our taxes keep going up, but no level of tax can fill this void. Pensions were pretty much a ponzi, they spent the money and what they invested failed to perform as projected.
Every city, county, local municipality, and school district over-promised on pensions while underpaying salaries.