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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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The far south side could receive better service, provided sooner and cheaper, just by improving Metra Electric with more frequent trains, fares and schedules integrated with CTA and Pace. Failure to do so supports the contention of others here that the main purpose of this project is to provide contracts and high-wage construction jobs.
For connected Democrats…..
Chicago Transit Riders Have Abandoned The System — Which Is Now A Crime Infested, Drug-Ridden, Chaos Breeding, Piss And Shit Stinking Disaster — But Chicago Transit Agencies Are Still Getting A Giant Tax Hike/Taxpayer Bailout Thanks To Senile Joe
Population is declining. Focus should be maintaining existing infrastructure, not expanding. More money wasted.
Sorry. Chicago cant afford this. Instead BJ needs to pay for the criminal illegal immigrants. CPS funcisn should be cut to pay for this Democrat created crisis too.
Extend the CTA Red Line to the southern border-One way ONLY.-From here to there. Empty on the way back.
According to a Bloomberg article that was posted here a few days ago, Chicago is potentially facing “elimination of Chicago Transit Authority train services for 20 Chicago neighborhoods and six suburbs”.
Rather than an extension, deal with the current budget and ridership issues. But of course, that wouldn’t win Biden any votes nor benefit the connected.
There is zero need for this extension. It’s nothing more than a union ‘make work’ job giveaway. Biden is taking a page from the Chinese, building infrastructure that goes nowhere that no one uses, and calling it ‘growth’.
I’m quite honestly doubtful the extension will ever be completed but will still cost billions of dollars.