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.
“Far South Side, where property tax revenue has been stagnant or declining for many years — a reminder of the legacy left by modern segregation”
Modern segregation? As in “midcentury modern”, which was 60+ years ago.
a useful rail system has one 600 mpg maglev and one slower like 200 mpg for local traffic over every interstate like 80, 70, 57, 55, yes im talking super mega gigga project. that is what a modern “Roosevelt” would do. I’ve traveled the European trains and they are fast super fast and you can’t even tell you are moving unless you look outside.
Another giveaway to the greedy unions
With
1. the advent of work from home; and
2. the descent of Chicago public transit (and Chicago in general) into a crime clusterf*ck,
public transit is no longer relevant for most people.
It needs to be either significantly scaled back — or scrapped altogether — and replaced with a model that isn’t based on outmoded 20th century assumptions.
Yes, this hugely expensive project on the backs of taxpayers seems ill-conceived, unless you evaluate it from the perspective of public unions.
The correct word is “redistribution.”