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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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HSR is a boat. A boat is a hole in the water into which vast sums of money disappear every year. The happiest day in a boat owner’s life is the day they sell it to another sucker. I’m not sure if Quigley can read, but I’ll give him the benefit of the doubt. If he can, then he should read the following report on current Amtrak operations: March 2024 Monthly Performance Report (amtrak.com) Please note that Amtrak doesn’t even recover its payroll from passenger receipts. Before paying for any of the fuel, locomotives, passenger cars, or track, Amtrak is… Read more »
IDOT/FHWA spent over $1 billion from Quinn/Obama regimes on the High-Speed Rail from Joliet to Alton ten years ago. Travel time was basically unapproved. Total choo choo boondoggle.
The world is on fire and this guy is worried about high speed railway……just so typical of these politicians with their heads in the clouds
And up there you know what.
High speed Rail between Chicago and St Louis …what a waste. But hell…According to the numbskull in the whitehouse…we already have high speed rail train service from California to Hawaii..
CUTE
WP Readers need to bone up on the high speed rail that was gonna connect LA to San Francisco.
The High Speed Rail from Portland OR to Tacoma WA would have cut 17 minutes off the travel time had it not crashed in its inaugural run. A switching error caused a number of deaths.
Actually there was no switching error. Washington State DOT (WSDOT) rushed the training for train crews, resulting in a missed speed reduction before a speed restricted curve. Not a single WSDOT stooge went to jail for this.
The bureaucrats never pay the price of their incompetence.
Mike Quigley has joined the “,usual gang of idiots “ and is a member in good standing.
Not any rail traffic on the main line that wants to get to St. Louis that fast. Nothing to see here move along.
A high speed rail system in the midwest is complete nonsense. I hate when politicians try to sell this crap that nobody wants and few will use, but it will make the contractors and unions rich.
No one needs to get to St Louis twice as fast. Its a miserable hellhole. Why hurry?
We need our own rail sinkholes just like the ones in California.