Report: MTA Debt Could Cause Fiscal Disaster

Analysts Say It's Up To Next Gov To Avoid Crisis

NEW YORK (CBS 2) — There’s a grim outlook for the MTA Thursday morning.

According to the Daily News, transit riders are facing even bigger fare hikes and additional service cuts if the next governor of New York doesn’t increase funding.

The paper said analysts from the Drum Major Institute for Public Policy are warning MTA debt payments are soaring – and that the next governor needs to come up with new sources of revenue to avoid a fiscal disaster.

The MTA has already decided to raise subway, bus and commuter fares in January to help plug a nearly $900 million budget gap.

  • Common Sense

    It would be nice to see “the people of NY” stand together and rally against the MTA. Imagine all the money they would lose with a full 24 hours of people not utilizing the trains, subways, buses, tolls. I know it’s close to impossible from happening but if we were to show the MTA whose in control (we should be) then I think they’d think twice about raising the fares. Problem is nobody wants to step forward and even if they do they won’t have half enough people behind them to make the least bit difference. Apply that to 90% of the problems here in NY and country wide and see what happens lol

  • Common Sense

    Ok. 500 Million spent in overtime. Ovetime is what time and a half or double time? Figure out that costs. Then take the employees that have low productivity levels and put them where the productivity levels are high and require more employees to work. Cut overtime costs by eliminating it entirely. The only overtime that could be worked has to be approved by a gm level. If the employees cannot do the job they are given, fire them. We need people that can do the work thats required not people to sweep up the empty cups and wrappers that people throw on the floor and then complain that it’s dirty. Theres a good solution to the problem. No more fare hikes, no more toll raises and no more money from the State. Everybody is have money problems and the MTA is the cause of their own 100%.

  • Sue

    Your fiscal math is terrible.

  • Bill Thoman

    I have a great idea. Give all the MTA and City employees a 25% increase in salary. They will pay more taxes and this will solve the MTA debt crisis. I would refer to this a the Wall Street approach or GOP approach. Or another method would be Mr. Bllomberg just throws a few billion $ into the kitty.

  • Richard T.

    I grew up in a union family as my Dad was a motorman on the subway from many years ago. Our family struggled on the meager salary that he made, and he also had to buy his own coveralls to go to work in. Now, anything goes. I used to take the M train to manhattan from Queens each day, and all you would see was workers who should have been cleaning the trains and the platform sitting around with not enough to do. We rid ourselves of the welfare frauds and they then all started working for the MTA. The MTA should trim down their numbers of employees who do NOTHING and save a few bucks that way. I started riding the trains when the fare was 20 cents, and back then you received more value for your fare than now!

  • GreatWhiteWolf

    Get rid of the current MTA management. The MTA had a surplus just a few short years ago. They went on strike causing the commuters to suffer, and suddenly they have no money? Does this make sense to anyone? We pay MTA by paying our fares. And for what? Dirty, unsafe, overcrowded and unreliable service. the MTA gets paid also from employer imposed taxes, telephone and utility taxes, real estate transaction taxes. As a taxpayer and an MTA customer, I demand its time for change. MTA has every New Yorker by the _____ because we don’t have an alternative choice.

  • Sheik Walid Bin Ali

    Great…there will be another fare increase immediately after this one. How bad does the MTA suck. What a bunch of crooks !

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