Quote:
Originally Posted by Taft
This is WAY off topic, but you'll have to back that with some figures. Look at unemployment rates for a statistic that doesn't support your view: http://www.nytimes.com/interactive/2...loyment&st=cse
I know the economy overall is hurting the CTA. The budget forecasts from last month were downright alarming. But I think it is a stretch to say that Chicago's economy in particular that is hurting it. If anything, the strength of Chicago's economy is one of the things that has kept the CTA alive this long. |
At the end of December, Chicago's unemployment rate was 7.6%. The nations was 7.2%. In addition, look at Chicago's unemployment rate to other large cities. LA and NY both have lower unemployment rates, by almost 3/4 of a percent.
http://www.ides.state.il.us/economy/cps.pdf
In January, we saw national unemployment jump to 7.6%. I think it's fair to say Chicago's employment situation worsened also, though we don't have that number yet.
I'm not saying chicago's economy is hurting the CTA so much as I'm saying it's tax base (real estate transfer taxes, for one) were of a poor design. That was Daley's and Blago's concession and it's bombed, and not only hurt the CTA but it also has been prohibitive to real estate transactions. It is essentially the city's "EF U" tax to home buyers and sellers.
Daley has mismanaged this town for too long. Nothing he’s ever placed his hands on has come in on budget. He’s pawned off income producing assets and is mayor of the highest taxed city in America. Bottom line, Chicago is a wonderful town in spite of Daley, not because of him.