Chicago Tribune: Mass-transit 'doomsday' looms yet again in Chicagoland

[marmar]

from the Chicago Tribune:



Mass-transit 'doomsday' looms yet again
RTA projects huge tax-revenue shortfalls for CTA, Metra and Pace

Jon Hilkevitch | Getting Around
February 16, 2009


The sinking economy is driving Chicago-area mass-transit agencies into the ground, according to new data marking a quick return to budget crises.

The new numbers are so bleak that the "doomsday" service cuts and fare increases threatened more than a year ago appear mild in comparison to the sweeping measures that would be needed to fill gaping budget holes the Chicago Transit Authority, Metra and Pace are facing.

That's the grim scenario, even though riders may be under the impression that recent fare increases at all three transit agencies have erased funding worries.

Tax revenues the CTA receives for its operating budget are estimated to fall below projections by $58 million for 2008 when the final figures for December are received and $155 million less than targeted for 2009 out of a $1.3 billion budget, according to Regional Transportation Authority documents obtained by the Tribune.

The RTA is also eyeing big funding reductions in the Metra and Pace budgets based on shrinking tax receipts: a $27 million reduction in funding in 2008 and $45 million in 2009 for Metra and $9 million in 2008 and $16 million in 2009 for Pace. ........(more)

The complete piece is at: http://www.chicagotribune.com/business/autocorner/chi-getting-around-16-feb16,0,5244322.column

[DCKit]

1. It's happening everywhere, just when public trans. became vital to 30% more people.

However, I'm suspicious (as usual) because DC's WMATA has been on a regular "we're going bankrupt" cycle for years as ridership has risen, fares have increased and revenues from taxes have continued to rise.

I'd dare to propose some in-depth audits of these very necessary public agencies would uncover serious waste, if not outright fraud.

[DonP]

2. This happens every year for the last decade when CTA/RTA budget time rolls around.

This is not news to anyone from Chicago. The operative phrase in that article is ..." yet again...".

The CTA/RTA always winds up running a deficit, no matter how much the state allots to subsidize them.

It's as carefully scripted as a Kabuki play where every year they announce the budget shortfall, the state claims they have no money to help them (this year it's probably true) the CTA announces major service cuts, and the state finds some money to "tide them over" and lectures them on fiscal responsibility.

The difference this year is Blago screwed the pooch as far as any of the usual deal making goes. Last year when he gave them the money they needed then, at the last minute, insisted on free rides for all seniors, thereby cutting a part of their projected income base.