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.
Using the CTA’s own data, the real picture of ridership is far worse than Illinois Policy’s Ravi Mishra presents. According to this data, CTA rail ridership is 34% of what it was in 2019 and 31% of the high-water mark of 2015.
The CTA is in an abyss. Despite the complete collapse of CTA ridership, the political animals want to paint the walls and dig more dungeons within the abyss they seem unable to acknowledge.
“We need a lot more to do less!” This is the motto of Illinois governmental agencies.
Almost as bad as the CPS