-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
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.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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See-BS2 regurgitates a CTA press release, no journalism there as usual. Let’s do their job for them. According to the CTA’s own data, CTA ridership in 2012 was 545 million annually. By 2019 that number had declined 17%, to just 455 million. The pandemic year 2020 ridership was a paltry 197 million, 64% less than 2012. 201 was worse at 195 million riders. At the same time, CTA’s budget increased from $1.240 Billion to $1.552 Billion, a generous increase of 25 percent. Comparing 2012 to the last ‘good’ year of 2019 alone, the CTA lost 17 percent of its ridership,… Read more »
CTA riders remember your metal American Express card — Don’t leave home without it.
a 10% increase over 52 weeks is called a ‘plateau’
After 2 years of work from home, former Loop workers will not go back to the crime infested CTA to work in the crime infested Loop. CTA is only useful to the the crime thugs that use it to search for their next victims
The gangbangers, addicts and mentally unstable welcomed this news. More potential victims!