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In April 2020, ridership fell to about 20% of pre-pandemic levels. Ridership has steadily climbed since then, reaching about 60% of pre-pandemic levels this year.
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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Does this have even a remote chance of recovery? Not really. The ridership slide that was occurring before the VOUO (Virus of Unknown Origin) was simply hastened by the VOUO. The CTA needed to shrink years ago, and instead seek to expand their faltering system into areas already served by transit (buses).
The Patronage Army must feed, the taxpayer be damned.
Sounds like the CTA has to cut expenses. It should have been done already. Get busy!