Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Why even bother spending millions for a train line for 75 passengers a day? You could fit 75 people onto a bus and do that trip for hundreds of millions cheaper. They want to spend millions to connect to Dubuque which is roughly the size of Mt. Prospect. It makes no sense.
75? Less when JB the Hutt and Alyson Arwady re-implement their worthless mask mandate on public transit. Then we’re back to running the trains and buses mainly to keep train crews and bus drivers busy hauling empty seats back and forth.
What the consultants won’t say is that the lion’s share of the startup costs is to install Positive Train Control on the old Illinois Central route. The system isn’t needed on lines that don’t have scheduled passenger service, so the Canadian National tracks this service would use were exempted from that unfunded mandate. This technology is frighteningly expensive to install and maintain and the already flat broke IDOT would have to fund most of it, with Federal taxpayers picking up the rest of the tab. The operating shortfall is simply excused away by transit advocates as normal for rail passenger… Read more »