Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Chicago Teachers Back to Work

Details

  • Description

    John Tillman of the Illinois Policy Institute on the agreement reached between the city and teachers.

  • Duration 3:45
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

The Chicago teachers strike it's -- -- think -- -- back to school teaches got a pay increase but not as big as they want asking full.

That Rahm Emanuel calls the deal late fat compromise.

Joining us now is John Tillman at the Illinois policy.

-- -- -- -- Our Carol Lewis from the Chicago teacher's union definitely one they rolled back every major reform the mayor was trying to put forward.

And most importantly in their release they actually bragged about the fact that defeated the idea of merit pay.

And think about that merit pay they don't wanna reward good teachers they did defeated -- fears are not part of the agreement then go back -- absolutely so -- -- they specifically do not want the mayor to be able to identify great teachers and reward them -- in fact they're protecting mediocre and for teachers with a steel and that's the tragic so when.

-- teaches what went teaches a laid off.

The union decides who comes back to look yes that's that needs is not a school principal the school board anybody else who says you're not a good teacher you ain't coming back that's not likely right -- still runs education absolutely and and they really proved it during the seven day strike where they really have the mayor over a barrel on America still have one.

Very strong piece of leverage which is charter schools which are outperforming other traditional schools and I think we'll see him step up investment that you have us along to undo the long term -- -- -- -- Tell me about the pensions.

Which these -- the ones who just go on strike if they retire.

What -- they walk away with well last year -- teacher that -- thirty years had a cash value pension at the time -- retired.

Of one point six million dollars of for your viewers that's how much money you have to have in the bank to be on the same equal footing as what these teachers are getting.

The starting pension annually with 77.

A thousand dollars so think about that -- are making a little over a 100000 dollars to retire they get 77000.

Dollars and over the course of that the cash value is one point six over the course -- -- about 2.4 million -- And that's on the backs of the people in the city Chicago -- the median income for its 30203.

Dollars.

The average incomes and offering 9000 that they have engulf this morning the city does not all of the money that's when she found is not funded to that level 32% funded with a new accounting rules that are going into place and so the real question is who's gonna what the -- -- ask the state taxpayers.

And taxpayers all over this country to bailout the Chicago Public Schools -- now that's important.

Illinois will vote for President Obama in this forthcoming election.

Yes Illinois wants a federal bailout he wants federal money to go into the state and into the city is that the backdrop here that is the backdrop and governor Quinn actually mentioned it in -- state of the union budget address he -- to withdrawn that little bit back -- from company -- put it in the budget document.

I'm going to the federal government for a bail out the wrong.

-- will vote full year.

But you make sure you ante up some money after November's bribes -- a long tradition in Chicago politics -- so I'm not surprised to have -- phrase like that but the key thing is that -- -- all of your viewers need to -- is we cannot have a federal bailout.

State pensions as a little over two trillion dollars because 2.3 trillion dollars no pension bailout from the federal government the states we have to make the states accountable.

And we can't have as they say -- we can't have it you you mean you don't want it it's not financially sound but that doesn't mean this I would not gonna get it.

Well all depends on congress Frankfurt federal -- to happen congress have to decide to do it's all those people thinking about how we're gonna vote -- -- give thought to this if you're a state that's been fiscally responsible a state like Texas or Indiana.

Do you wanna bail out of state like Illinois -- -- from what were the worst in the country in terms of our from the gut the funding of pension strike -- and we have a website -- up on Thursday -- she notices a long running story in California.

And annoying.

And various of the states that broke.

They want federal money and I say they will probably get -- of the -- I was gonna product not that I have that John is all the plant that's so much for joining thanks for -- -- -- leadership.

Load More