Hey Look - A Billion Dollars!
CTA Red line commuters will get faster, more reliable service and improved stations — but only after enduring three years of construction that might include station closings — thanks to a long-awaited overhaul unveiled Thursday.
With $646 million in state funding now secured, the CTA can start rebuilding the workhorse line that carries nearly 40 percent of the system’s rail passengers, but travels as slow as 15 mph through much of the South Side.
- The entire project carries a $1 billion price tag, with the state kicking in $702 million, while $255 million is coming from federal sources and $44 million from the city.
Illinois is listed among the worst of the 50 states in paying it's bills and if we recall, trails only California and New York on the road to complete insolvency. Chicago isn't doing much better - or at least we thought Chicago wasn't. That's what Rahm has been saying for months now.
Labels: money questions
posted by SCC at 12:01 AM
32 Comments:
Hmmm....California, Illinois and New York, what do these BLUE STATES all have in common, other than hundreds of thousands of leaches?
Better get those recently increased property taxes in on time...
Well if this construction is timed just right it will add just a wee bit of difficulty for certain people from certain parts of the city -- trying to travel downtown to the NATOG8 apple picking parties and other activities don't you think?
BTW, Since the Feds are kicking in a big chunk of change I have to ask if we have that money in hand already?
I mean you do know that we are just a mere 14 days away from yet another Federal government shutdown right? Nov 18 people. Mark your calenders!
http://firstread.msnbc.msn.com/_news/2011/11/01/8584534-policy-fights-could-mean-another-shutdown-threat
I had thought that the state personal income tax increase was suppose to be used to pay outstanding bills and to make up pension payment obligations?
And we're creating 2,700 jobs -- good paying jobs? really?
$1 billion dollars for 2,700 jobs for a four year project. Let's assume 100% of that money went to wages and you do the math.
Hmmm... so, I'm on a fixed income. I have certain, required, fixed bills I MUST pay (let's say water, electricity, car insurance, heat, gasoline and food).
Then, there are those 'wants', rather than 'needs'-- like tickets to the theatre, cosmetic repairs to my car's door-dings, a hundred tulip bulbs to improve my landscaping, a paint job for the front stairs, new concrete for the side driveway.
Since I'm on a budget, I tend to pay the bills I have to pay. I then look realistically at the list of 'wants' and, reluctantly, console myself with 'next year, I'll do that next year'. Especially in these dicey economic times, I'm more cautious and conservative with any little bit of discretionary income I might have.
I can wait for tulips til I have more money available. I can wait for new concrete, even if the current stuff is a little seedy. I'll watch Masterpiece Theater on tv, instead of spending $125 on show tickets. Why can't the City of Chicago do the same? Why can't the State of Illinois control its profligate spending? There's precious little in this world that can't wait for one more year, but for some reason this city and this state are driven, like addicts, to dig the financial hole even deeper.
And more money for Rahm's buddies:
http://www.chicagotribune.com/news/local/ct-met-world-business-chicago-emanuel-20111104,0,5794783.story
Although World Business Chicago receives about $1 million a year in taxpayer money, it meets behind closed doors and answers only to the mayor
RhAM wants to ensure reelection, so the projects are scheduled to end a few weeks before election time. JUST IN TIME for RhAM to look towards the yuppies/hipsters and southside RevRUN voting blocks to praise RhAM.
The north end of the Red Line moves a shitload of people downtown everyday.
Infrastructure spending like this is needed. Unless you want to turn out the lights and let the whole city devolve into Detroit. Then who will fund the pensions?
The CTA also needs to hire some additional forensic accountant types to keep an eye out for the Daley nephews who may have their tongue in the trough.
Silly, silly, silly.
Be careful saying that Illinois can't pay it's bills. That is what Rahm and Pritzker are banking in selling to the public then poof, the Illinois constitution can be changed and bye bye pensions. Careful with the allegations about Illinois.
"Illinois trails only California and New York on the road to complete insolvency"
The NY city police pension site claims 36,000 active members along with 43,000 retired members. Imagine if the democratic bums here had their crooked ass hands on that fund.
The lakefront liberal Dems are all jumping for joy over on the Uptown Update blog. Their Wilson/Broadway L station will be getting renovated ($135 million). It's all wonderful and not a one of them thinks that it's odd or curious that a near bankrupt city and state could come up with a billion dollars at the snap of their fingers.
Of course, these are the same people who voted for Obama and Rahm. Explains a lot, I guess. Seems like they just can't wait to pay more tax money into their 2 or 3 TIFs that ex Ald. Helen Shiller set up.
"That's what Rahm has been saying for months now."
***************************************************
1st Class bullshit artist is Tiny Dancer 9.5 !!!!!!!
City Budget: There is no budget crisis in the city of chicago. All the funds needed for services are locked up in TIF'S. The books need to be opened and prove the assets and liabilities of the city. The government should be there to provide basic services and then with additional assets provide more humanitarian services like rides for the homeless after a day of soliciting on city streets and CTA properties to be chauffeured to their over night accommodations. The repeal of all TIF accounts should be priority one for our city residence as the mayoral slush fund taken away. The mayor and alderman should propose in open council meetings the future spending of city monies, not taken from an account the citizens or alderman have no control of. A CityWorker
Once again people, dont ever believe this state or city has no money. They prove time and time again there is plenty of money for what they want and not what needs to be, like funding the pensions! Lets fix the red line so the beast can get to downtown faster to do their wildings and robberies! What a joke. At least I have job security with the beast running wild.
The money for the Wilson station was already there under the Huberman regime but scraped away for some other nonsense. The tenants were even kicked out of the storefronts that the CTA realized revenue from. Another Hubie factor was missing from the Therese Mintle/CTA pension story. The entire program was pushed by him to take care of him and his friends that he brought over with him.
I heard Lori Healey, former Chief of Staff under shorty during the thieving days, is brought back in to oversee G8. Can this be true? No police training and she will run this? And if so, who is paying her?
Excuse me, you guys understand SO LITTLE about government finances. See, President Sparklefarts hitches up the unicorns to the wagon full of magic money and points 'em toward Springfield. And when the unicorns get there, then the State gets to spend the money on all kinds of cool stuff that helps Madigan and Co get re-elected. And none of it costs anyone a penny!
With ignoramuses like you around, it's a wonder the economy hasn't come to a complete halt.
Geez.
any word on why Pam Zekman was filming the house @ 6204 s. Mulligan yesterday afternoon? may i just say that she is one ugly gal!
To what new jobs will these trains take people -- or is the whole project merely to provide faster transportation for flash mobs?
12:41 If you want tulips,just bring a hand spade downtown and dig up some beautiful tulip bulbs from our wonderful giant city flowerpots. After all, there are not too many Police to interfere with your bulb acquisition.
Where in the Fuck did the state come up with $702 million bucks? And the broke City of Chicago found $44 million? Again it shows the deception we have been so accustomed to in this state and city. When these bastard politicians want to build something to put their name on it they find the money. Fuck the CTA. The service will get no better no matter if they poured a $Trillion dollars into it. Racoon Eyes can't brag about tossing that $44 mil into our depleted pension funds. Piss it away on the hopeless CTA. More tax dollars down a Chicago rat hole. At least the connected contractors will have a nice Christmas.
A poster commebnted on the "needs and wants" we all have to deal with today. The reason the state and city piss away tax money we don't have is because they have to feed the ever hungry connected contractors who donate to their campaign funds when these projects are approved. Your kid needs a job Mr. Politician. Done. Your kid needs college tuition money? Done. You and the wife need a nice vacation? Done. Imagine the "favors" given by these greedy corrupt contractors we will never know about. This has been going on for years and it will never change. And you always hear the "more jobs for the working man". Almost wants to make you throw up.
But no money to shore up our pitiful pension fund..
The city has repeatedly refused to honor their side of the bargain. When will these thieving politicians ever be held accountable??
yet again quinn and rahm find new ways to amaze me....they want control of our pensions, raises taxes, give their buddies at com ed a nice rate increase, put a ticket on my window if my tire is 7 inches from curb, and want to fine me for not shoveling( u think streets and san will plow side streets while they're out taking pictures???), and can't give my wife ( a teacher), her raise that was negotiated in her contract...but they can find a billion dollars for this...and i bet he'll want to take away uniform allowance, hazmat pay, duty avail pay and the power test pay from us and fd....
The TIF fund has over $923 million dollars in it collecting interest. This is the mayor's "piggy bank". Why the fuck does Racoon Eyes need all that money at his disposal while he is raising taxes on us? That is OUR money!
Yeah, they could have actually used that money to re-instate the express buses that were cut in the last two years. The Western 49x bus removal alone has increased some commutes by an hour. But, you can't launder graft by hiring more bus drivers can you?
I hope the union is documenting this shit along with all the other shit like tiny dancer 9.5 giving out raises to all the inside big shots. This way when the city cries broke because of a terrible economy during the next contract negotiations or when they turn their pockets inside out and say they can't pay our pensions, the union can pull this shit out.
Great theater to watch Racoon Eyes backing off some of his cuts. OK Alderfools here is your script. Scold me and whine about how tuough these cuts will be on your voters. I will relent and let you keep some of the stuff I threatened to wipe out. But...I AM STILL GOING TO FUCK YOUR VOTERS WITH SPEED CAMERAS ON 50% OF CITY STREETS...I AM GOING TO DOUBLE YOUR WATER BILLS BY 2015.... YOU WILL PAY MORE for your city stickers....$10 for small to medium cars and $15 for larger cars....$2 more to park in any city garage. There are lots of other hidden "revenue enhancements" I will keep secret because I don't want to cornhole you too much at the start.
Heard on NewsRadio 78 this afternoon, Mayor Rahm wants to
raise City Sticker price to $ 85.00
for small cars and $ 135.00 for
larger cars so that public libraries can remain open.
I thought that tax was earmarked
for street maintenance and repairs.
Anonymous said...
But no money to shore up our pitiful pension fund..
The city has repeatedly refused to honor their side of the bargain. When will these thieving politicians ever be held accountable??
11/04/2011 02:25:00 PM
How much you wanna bet, though, that the pensions of all the elected officials are TOTALLY FUNDED and COMPLETELY SOLVENT!
Great to know that the stuttering prick won't have to worry about missing a pension check.
When will these thieving politicians ever be held accountable??
11/04/2011 02:25:00 PM
the answer to your question depends entirely upon how much patience you have.
Chalkie
If its that serious run for alderman or mayor!
It's about time the Red Line got rebuilt!
It's about time that the rail line that hauls 37% of all CTA rail commuters gets as much investment as highways to the middle of nowhere and CTA rail lines that haul 10% as many people. Of 211 million trips people take yearly on the CTA rail lines, 79 million take place on the Red Line, yet it has been treated like the agency's poor relation.
If we had a true Free Market economy in this country, which we have not had since at least 1913, the Red Line and perhaps the Blue would be operating very profitably by themselves, and CTA could have triaged bus lines that haul maybe 90 people a day. Too bad the heavily used rail lines have to suffer to finance bus lines used only by old folks who are taking tours of the neighborhoods they've lived in their whole lives, just to pass time.
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