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MTA faces ‘generations’ of ‘suffocating’
debt without bailout, report finds

Original Article

Posted By: Ribicon, 10/13/2020 11:51:57 AM

The MTA faces years of “suffocating” debt if the federal government doesn’t come through with badly needed aid, state Comptroller Tom DiNapoli said Tuesday. “Failure to fund the MTA now could disrupt maintenance and repairs and increase the MTA’s debt to suffocating levels that could take multiple generations to recover from,” said DiNapoli, whose office released its annual audit of the $18 billion transit agency’s finances. “Washington needs to step up to help the MTA if our regional economy is going to fully recover.” MTA officials are seeking $12 billion from President Trump and Congress amid what they’ve called a “fiscal tsunami” of depleted fare,


Give the junkie another fix?

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Reply 1 - Posted by: msts 10/13/2020 11:54:51 AM (No. 571128)
When you see trains and buses driving by empty at different times each day, that is the explanation. The routes are dedicated. The schedules are dedicated. And both bear no semblance to the actual demand but the equipment, drivers and support system are all there doing nothing and costing money. Its the same everywhere with mass transit. Once there is no "Mass" it loses money.
21 people like this.

Reply 2 - Posted by: stablemoney 10/13/2020 11:57:21 AM (No. 571131)
Strictly a NY problem. Frankly, I am not interested in helping.
36 people like this.

Reply 3 - Posted by: earlybird 10/13/2020 12:00:52 PM (No. 571136)
How did it get in this position, Bomptroller DiNapoli? Don’t blame this on Covid19.
17 people like this.

Reply 4 - Posted by: earlybird 10/13/2020 12:01:34 PM (No. 571138)
Comptroller DiNapoli.
8 people like this.

Reply 5 - Posted by: GreatGreyhounds 10/13/2020 12:03:04 PM (No. 571140)
I wonder how much of the budget goes to pensions?
28 people like this.

Reply 6 - Posted by: IAmButASimpleCaveman 10/13/2020 12:05:05 PM (No. 571145)
gimme gimme gimme - let me know it turns out for you
14 people like this.

Reply 7 - Posted by: thethirdruffian 10/13/2020 12:06:19 PM (No. 571148)
Not anyone's problem, but NYC and the idiot voters who put Democrats in charge. Go wallow in your filth and decay.
24 people like this.

Reply 8 - Posted by: Bur Oak 10/13/2020 12:08:29 PM (No. 571149)
They might consider raising fares and letting NYC businesses open without restrictions but that makes too much sense.
17 people like this.

Reply 9 - Posted by: wilarrbie 10/13/2020 12:16:10 PM (No. 571155)
They have a business model that cannot serve the needs of it's existence within the parameters of it's abilities at a price the public is willing to pay. There ARE solutions, but a bailout - which addresses none of the problems - is not one of them.
20 people like this.

Reply 10 - Posted by: NeverForget 10/13/2020 12:24:34 PM (No. 571162)
Fund you, New York!
9 people like this.

Reply 11 - Posted by: Philipsonh 10/13/2020 12:26:34 PM (No. 571164)
We live in NYS and have two cars, which we need. WE pay every expense involved. NYS simply cannot handle ANY budget. The people that USE a product should PAY for the product. The cost of maintain two cars far exceeds the cost of using public transportation.
9 people like this.

Reply 12 - Posted by: cor-vet 10/13/2020 12:27:06 PM (No. 571165)
I've survived for 77 years out here in rural S. Louisiana without mass transit. I own a vehicle that I pay for and the up-keep. Tell me why I need to pay someone else's travel costs. I'm sure that somehow this is President Trumps fault, not the fact that MTA workers retire for more money than a lot of people make. It's going to be one emergency/disaster after another until they get some bail out funds.
17 people like this.

Reply 13 - Posted by: SkeezerMcGee 10/13/2020 12:29:37 PM (No. 571166)
The first line in the Article should include "The Metropolitan Transportation Authority (MTA) faces . . . " It cannot reasonably be presumed that the readers, including millions who reside in NYC, know the meaning of "MTA." The lack of knowledge of too many folks in NYC cannot be underestimated.
11 people like this.

Reply 14 - Posted by: Starboard_side 10/13/2020 12:32:16 PM (No. 571167)
There is NO way that they are in this much debt due to COVID lockdowns.
11 people like this.

Reply 15 - Posted by: Enoch Powell 10/13/2020 12:36:14 PM (No. 571170)
Trump to NY: Drop Dead. Why should we validate mismanagement and corruption? I'm guessing there are many many six figure pensions floating around.
16 people like this.

Reply 16 - Posted by: Plex 10/13/2020 12:47:56 PM (No. 571186)
Nothing wrong with big pensions IF they are funded properly.
8 people like this.

Reply 17 - Posted by: gobushcheneygo 10/13/2020 12:50:24 PM (No. 571188)
If NYC has $900 million to give the Mayor's wife to lose (with no oversight), then NYC has money to burn.
21 people like this.

Reply 18 - Posted by: Patchy Groundfog 10/13/2020 12:51:05 PM (No. 571189)
Want is not need. Your problem is not my problem.
13 people like this.

Reply 19 - Posted by: MindMadeUp 10/13/2020 12:54:19 PM (No. 571194)
Hmmm... Why is it government-run businesses that ignore the basic laws of supply and demand always seem to go broke and to require more and more money pumped in from the outside? This is a question that should puzzle Marxist/Democrats, but they never seem to ask it.
10 people like this.

Reply 20 - Posted by: john56 10/13/2020 12:57:09 PM (No. 571201)
If you'd have used the money you spent to paint and repaint and repaint the street outside Trump Tower with "Black Lives Matter" you had enough money for the transit authority.
15 people like this.

Reply 21 - Posted by: bad-hair 10/13/2020 1:00:32 PM (No. 571206)
Take your financial crisis and stick it underground where the sun don't shine. Yours truly, Texas
13 people like this.

Reply 22 - Posted by: GoodDeal 10/13/2020 1:39:19 PM (No. 571248)
How about filing bankruptcy and getting your financial house in order. A federal bail out will just enable further mismanagement and incompetence. You broke it you fix it.
9 people like this.

Reply 23 - Posted by: hisself 10/13/2020 1:49:11 PM (No. 571263)
I live in Texas. Why should my taxes be used to pay for a decidedly local (NY) problem?
14 people like this.

Reply 24 - Posted by: snowoutlaw 10/13/2020 2:14:55 PM (No. 571290)
Sell it to some investors and let the free enterprise system make it a clean, safe and efficient system people would want to pay a fare for.
8 people like this.

Reply 25 - Posted by: moebellini3 10/13/2020 3:16:55 PM (No. 571345)
Where did all the money go. How much have the NY politicians stolen. Where does all of that toll money go. Toll money, gas tax money, local taxes, state taxes and business taxes. All of that income and NYC looks like Irag after a bombing raid. They cannot account for where those billions go yet they want billions more. Screw'em all and vote them out. When are those ignorant New Yorkers going to wake up.
8 people like this.

Reply 26 - Posted by: Historybuff 10/13/2020 3:29:26 PM (No. 571353)
My trip on the subway last week showed it to be uncrowded. It also smelled sooooo nice. The floor of the train was clean. This should have been the standard all along. But we never rousted the bums before or during this. (They are not "homeless" they live down there.) The MTA latched onto the tolls for the river crossings. The toll between 2 boroughs - Brooklyn and Staten Island is $19.00 that is assumed to be a round trip toll. The genius mayor has caused traffic jams (what's the difference between a traffic jam and 'traffic calming'? A $2million study) and congestion and now wants to charge for that congestion - anywhere else that would be considered racketeering - They can't get out of their own way wasting $$$, and begging for more.
5 people like this.

Reply 27 - Posted by: cor-vet 10/13/2020 3:46:27 PM (No. 571365)
As a construction superintendent in the oil patch, many times, production hands would try to add a lot of extras to my construction job, spending my nickel instead of their own. My answer was always,"What you want and what you need are two different things, and I'll decide what you need!" If they want their MTA so badly, pay for it themselves. Of course, the political solution is to withhold monies from police and firefighters, thus scaring the people into higher taxes.
3 people like this.

Reply 28 - Posted by: DrOstrow 10/13/2020 4:00:16 PM (No. 571381)
Almost everyone here and elsewhere saw this coming ! Remember Fredo telling N.Y.C. residents that N.Y. didn't need conservatives ? I do. Remember Fredo telling TAX PAYERS who were leaving N.Y. that they weren't needed when the China virus started affecting a growing number of people ? I do. Now, N.Y. NEEDS those people that Fredo sneered at and belittled and since ( so I have read ) many of them may not return ( gasp !! ) parts of N.Y. starts the FIRST pilgrimage marching back 'to the well' to demand money from the rest of us . What I would say to their faces cannot be posted here !!
5 people like this.

Reply 29 - Posted by: BGray2 10/13/2020 4:42:45 PM (No. 571428)
Why should the rest of the country's taxpayers fund something exclusive to NYC? I have never used the MTA, and God willing, never will. Because to do so, would mean that I was in a place that I swore I would avoid at all costs.
6 people like this.

Reply 30 - Posted by: learner 10/13/2020 4:46:48 PM (No. 571430)
America to the MTA 'Trim the fat bloated bureaucracy and pensions'.
5 people like this.

Reply 31 - Posted by: Justcurious 10/13/2020 4:50:15 PM (No. 571432)
Crippling if the Feds don't shovel over money? I read the article but nowhere did it explain why it was an "us" problem rather than a "you" problem. They "may" face layoffs? Their cost problem is all the people they're paying not to work. As for their fare and tax revenue problems, that's what happens when you make a city uninhabitable.
5 people like this.

Reply 32 - Posted by: judy 10/13/2020 4:53:17 PM (No. 571433)
It may be cheaper to use rental cars than Big Empty Buses...
2 people like this.

Reply 33 - Posted by: StrikingViking 10/13/2020 6:32:26 PM (No. 571552)
New York is one of the richest places in the world. Maybe they should fund their transit system (and their police, by the way). If they cannot or will not continue funding it at the current level, maybe they ought to do what families across the country do: tighten their belts. Yes, even reduce their bloated payrolls and trim their bloated bureaucracies. Get your grasping paws out of our wallets; live within your means like the fly-over states do.
3 people like this.

Reply 34 - Posted by: DVC 10/13/2020 11:55:02 PM (No. 571806)
Running out of OPM! Needing a "fix". NO! Not ever.
3 people like this.

Reply 35 - Posted by: JimBob 10/14/2020 1:56:02 AM (No. 571862)
Gee, are these people crying for another bailout the same New Yawkers who are always looking down their nose at us 'smelly Walmart working people' out here in Flyover Country? Now they DEMAND that We pay for THEIR mismanaged subway? Hey New Yawkers..... YOU made your bed, now YOU get to Lie Down in it! Hint to improving your situation: Democrats Destroy everything that they Touch. First Step in fixing the problems: GET RID of the Democrats, and get some COMPETENT people in place to run things.
3 people like this.

Reply 36 - Posted by: doctorfixit 10/14/2020 2:06:38 AM (No. 571864)
Shut off taxpayer money to any government agency that could be replaced with private enterprise. Including schools To hell with Cuomo, diBlasio, and their voters.
5 people like this.

Reply 37 - Posted by: ussjimmycarter 10/14/2020 9:22:00 AM (No. 572060)
Mass transit is vital for the people, Comrade! Take money from rural Iowa and give it to NY...because...we FEEL LIKE IT! We will handle our own transportation needs Pondexter...thanks!
0 people like this.

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