uh oh, CTA wants to raise fares (Chicago, Addison: neighborhoods, taxi cab)

[prairiestate]

That would be known as an exageration for the sake of making a point. Still, the budget gap is expected to grow significantly over the next few years. This may well be only the start of more severe cuts.

[scarletneon]

Originally Posted by prairiestate

That would be known as an exageration for the sake of making a point. Still, the budget gap is expected to grow significantly over the next few years. This may well be only the start of more severe cuts.

yeah, it's going to get REALLY REALLY BAD in a few years, and people don't seem to understand it.

I'd like to know what all those cutesy protesters that were out front this morning with their drums and tubas would like to do about it. you can stand around and protest about the "big bad CTA" taking your money, but having a substantial argument about it and learning the facts, even about something as basic as "operations" vs. "capital," would make the argument go a lot further.

[DatsThaBadGuy]

I can honestly say I can feel the CTA service getting worse and worse by the month. Waiting at a bus stop now is like pulling out teeth, and the L isn't much better. It's because of reasons like these I am glad to be leaving my home town in a few days. I am tired of watching my city slowly kill itself and the residents being either too ignorant or not caring enough to do anything about it, and not just with the CTA too, but in many aspects. Heck, with the way the CTA is headed, it wouldn't surprise me if Chicago became a car dependent city way down the road (no pun intended), and the L simply just becomes a sight-seeing tourist gimmick such as the trolley's in San Francisco, or the streetcars in New Orleans.

[Drover]

Originally Posted by supernerdgirl

yeah, it's going to get REALLY REALLY BAD in a few years, and people don't seem to understand it.

I'd like to know what all those cutesy protesters that were out front this morning with their drums and tubas would like to do about it. you can stand around and protest about the "big bad CTA" taking your money, but having a substantial argument about it and learning the facts, even about something as basic as "operations" vs. "capital," would make the argument go a lot further.

Yeah, the brain trust out there protesting the fact that they face job cuts were chanting this: "Hey hey, ho ho, the CTA has got to go!" BRILLIANT! That would really solve the problem and put all of you idiots out of work.

[scarletneon]

Originally Posted by Drover

Yeah, the brain trust out there protesting the fact that they face job cuts were chanting this: "Hey hey, ho ho, the CTA has got to go!" BRILLIANT! That would really solve the problem and put all of you idiots out of work.

I don't even know that it was any CTA workers doing any of the protesting... it seemed like a bunch of hippies who want everything but don't know or care to figure out how to pay for it. They don't like to listen to how if the union would just budge a little the service cuts wouldn't be so severe and some jobs could probably be saved. Instead they assume that no one there is sacrificing, and the CTA just wants to make us miserable and take our money. The CTA has cut something like almost 20% of its workforce since 2007, but most of the union employees have fared ok from what I hear.

[Avengerfire]

Originally Posted by supernerdgirl

...the CTA just wants to make us miserable and take our money...

After decades of dealing with them, I am convinced those things are two of its main purposes.

[scarletneon]

Originally Posted by Avengerfire

After decades of dealing with them, I am convinced those things are two of its main purposes.

But you can't ignore the fact that this time, this "crisis" is a nationwide problem, not just the CTA ruining everyone's lives.

[Chicago60614]

This state is beyond royally screwed financially.

So now the CTA is getting no fare increases for 2 years (until after the election), because the state is taking out tens of millions in bonds to cover the shortfall in operating funds (because who doesn't take out a mortgage to buy groceries). Two years from now the CTA will be on the hook for $10 million in interest payments a year for the next 28 years to pay for all this. All in all it's a $280 million drain on operating funds over almost three decades just because of the 2010 budget shortfall. One year.

Now in 2 years, the CTA is probably going to be in the exact same mess since no one will actually fix the solutions - just throw them into the next year or two, and we're going to add another $10 onto the pot of expenses. Say hello to even bigger fare increases and service cuts.

Whoever approved all this needs to be shot. As someone with just a small knowledge of finances - this is a HORRIBLE HORRIBLE HORRIBLE idea. Screw the "it's a bad year for everyone". This plan has one and only ONE reason behind it. Elections coming up within the next two years.

I see the Pew Institute just released their list of the 10 most troubled states as far as financing - and there was Illinois - shining right up there near the top. Year after year of constant borrowing to meet annual pension dues and other expenses. The worst was in 2004 when the governor took out a $30 BILLION dollar loan to cover pension costs for the next 20 years, while at the same time taking the state off the hook from making any contributions for a two years span (election budget time!). So the state would have fared as well under this new plan than it would have if it had just made the annual contributions when they come due - assuming that the state got a constant 8.5% return on this new investment over 20 years. Even at the time any and all experts were looking at this right away shaking their heads going "what? well that's not going to happen. Why on earth are they doing this???".

Well guess what. It's only getting a 3.5% return. So now because we didn't feel like paying pension dues for 2 years we get a bad deal from an investment - and it all adds up to the state adding billions and billions in additional costs to the state budget EVERY YEAR.

We need to do some massive spending cuts coupled with some pretty big tax hikes, coupled with pushing down some unions and having a stern talk about the future of the state pension if we have ANY hope of crawling out of this in a reasonable fashion.

[Avengerfire]

Originally Posted by supernerdgirl

But you can't ignore the fact that this time, this "crisis" is a nationwide problem, not just the CTA ruining everyone's lives.

Of course. And until governments can learn to live within their means and not spend money they do not have-many parts of the country are on a one way track to economic collapse.

[DatsThaBadGuy]

I'm moving in a few days, and I bought my last seven day pass a few days ago- it was a great feeling to finally say to yourself "this is the last penny the CTA will ever steal from me, ever again." I, and many others, have depended, and continue to depend, on the CTA, but I can't help but really wish the worst for the CTA and, for the most part, all their lazy, incopetent, and whiny employees.