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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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I suggest Bernie Goetz’s guide for NYC Straphangers. Granted it’s an old read but parts are applicable to the CTA today.
Certain riders are gone forever. WFH has made a permanent dent in ridership. The lack of safety – or perception thereof – means women are not going to take the CTA off-hours. They’re probably gone forever too. Also, many transit-oriented folks have pivoted to cycling. You have to expect the expansion of bike lanes (especially protected ones) and going to drive CTA ridership down.
Organizations that have a substandard service don’t “win back” customers until the service is fixed.