Several cities are struggling with their obligations. Chicago is one:
“Aug 28 (Reuters) — The Chicago Board of Education on Wednesday unanimously approved a $6.6 billion fiscal 2014 budget for the Chicago Public Schools, tapping budget reserves to cover 70 percent of a $1 billion deficit.”
“The budget gap for the nation’s third largest public school system was driven by a steep climb in pension payments. …”
Our mayor has foreseen the potential for future problems, and we’ve had some experience with fixed costs and diminished revenues due to economic conditions here. Union demands and power put taxpayers at the mercy of collective bargaining, something that doesn’t belong in the public sector.
It appears inevitable we’ll see something on the ballot soon to give the people a chance to decide our future. You can expect the unions to organize every member, family member and friends to get out to vote. We have a chance to avoid the plight of many Lower 48 cities and keep this a reasonable place to live.
— William Ahrens