Billion dollar pension debt

Six figure pensions are in Cleveland school’s $1 billion pension debt

Cleveland children without computers and internet are not being educated. The children in the schools superintendent Eric Gordon closed won't graduate. He gets $1 billion a year to educate 36,000 children; enough to make them all geniuses. Now he wants a tax increase in November when he should be resigning.

CLEVELAND, OH – The next time failing Cleveland school superintendent Eric Gordon “skins and grins” his way through the neighborhoods asking for another tax levy, voters should ask him about the $1 billion retired employee pension bill he’s accumulated.  Gordon’s budget for educating 36,000 Cleveland and some suburban school children was $921 million in 2017.  That same year Gordon’s long term debt for public employee pensions exceeded $1 billion. Gordon’s staggering $1 billion pension debt is identified in Ohio Auditor of State David Yost’s 2017 Comprehensive Annual Finance Report (CAFR).  Gordon and his financial officer, Derek Richey, explain how they set-up…

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