http://www.chicagotribune.com/news/opinion/editorials/ct-cta-budget-edit-1119-20141118-story.html

The CTA has performed well compared to most other units of Illinois government, which is reflected in its new budget.

Comment: The pension is a bigger problem, however, than understood. It’s unfunded liabilities worsened again for FY 2014 despite a very good year of returns on its assets. More on that later.