Chicago Teachers Not Happy With Union's Boy Gov. Quinn

Scores of striking Chicago teachers are protesting today outside a Sept. 11 memorial event where Gov. Pat Quinn is speaking. Quinn has been mum on the walkout, except to say “Good luck” to them as he walked through the crowd.

Good luck. Quinn doesn’t lack for gall: the same man who took the unions’ side against Wisconsin Governor Scott Walker when Walker wanted to implement collective bargaining reforms, and instituted a 66% income tax hike and a 45% corporate tax hike which helped create $7 billion in revenue that was promptly eaten up by workers’ retirement costs is now posing as a reformer.

In the spring Quinn attempted to get a reform plan into action that would raise the retirement age and reduce cost-of-living increases.  If employees opted out they'd then have to forego retirement health benefits. In addition, he wanted downstate school districts to begin paying their own pension bills instead of the state paying them.

Republican lawmakers balked, saying that property taxes would rise unless districts were able to renegotiate contracts and make teachers pay more toward their pensions. But teachers’ unions wouldn’t budge.

Meanwhile, Standard and Poor’s has downgraded the state of Illinois. Quinn is caught in the middle; he was a big-tax guy who was the unions’ boy, but now as a “reformer” he’s got the unions mad at him. He can’t side with the teachers because he won’t look like a reformer. He can’t condemn them or the unions won’t support him.

Not exactly a man of principle.


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The past several months have seen the price of gold slump even as the Fed and other central banks have accelerated their massive expansion of paper money. Gold is off about 20% so far this year with silver down almost 30%. The old adage--“don’t fight the Fed”--particularly comes to mind now because the US equity markets have been setting new highs during this same period. All of these gains are nominal, you understand, but for terrified American policy makers and investors, nominal is just fine.

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