Sunday, July 5, 2015

DROP for dummies

City Paper has a gigantic take-out on DROP (it's called "The Billion Dollar Boondoggle," if you want to get a sense of its argument) by Ralph Cipriano, and a helpful chart called "DROP for dummies" if you want to get the lay of the land of the DROP discussion. The article begins with a basic summary of the outrage that is DROP for elected officials:

DROP for dummies

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City Paper has a gigantic take-out on DROP (it's called "The Billion Dollar Boondoggle," if you want to get a sense of its argument) by Ralph Cipriano, and a helpful chart called "DROP for dummies" if you want to get the lay of the land of the DROP discussion. The article begins with a basic summary of the outrage that is DROP for elected officials:

If Verna runs for office again in 2011 and wins, she can retire for one day, make a deposit at the bank, and then go back to work the next day, Jan. 15, 2012, and resume collecting her salary of $148,090. Or Verna, who will be 80 years old, could stay retired and collect her annual pension of $133,701. Either way, Verna will be a lot richer. And all she had to do to earn that big cash bonus was sign a city contract scheduling a future retirement date she's perfectly free to ignore.

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Every year, city government spends slightly more than $4 billion. Where does all that money come from? More importantly, where does it go? Are we getting the most bang for our tax buck? “It's Our Money” is a joint project between Philadelphia Daily News and WHYY, funded by the William Penn Foundation, designed to answer these questions.

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