All big cities politicians come to power on the promise of a payout. For the most part they keep their promises; raiding the public treasury to reward, withholding to punish. When the treasury runs low they borrow against the future, bleeding the yet unborn to satisfy the lusts of the present. All goes well until the future arrives.
It seems that the pyramid scheme known as the NY Metropolitan Transit Authority (MTA) has been running on borrowed time from some good while now: $16 Billion of borrowed time. Not to worry, the ‘Covid Funding’ working it’s way to federal fruition will (supposedly) settle the matter. There is little time to waste though, if this crisis is to be fully capitalized and those blood suckers within the NY City Council are, if nothing else, experts at leveraging crisis for gain.
This from Brietbart:
Assemblyman Robert Carroll proposed the bill, which would require New York City residents to pay a $3 fee for packages delivered to their homes as many businesses remain shuttered as a result of the Chinese coronavirus pandemic. Carroll believes his proposal could help the MTA, with the surcharge generating over $1 billion per year.
In a joint op-ed with John Samuelsen, the International President of the Transport Workers Union, Carroll said the MTA is in need of a bailout from Washington, but contends that it alone will not suffice.
“The MTA’s latest forecast pegs its deficits through 2024 at a staggeringly high figure: $16.2 billion. As been widely reported, COVID has decimated ridership and other sources of transit funding. Only the federal government can deliver on such a huge scale,” they wrote, adding that MTA will need “more than a one-shot infusion of federal money to keep it safe, reliable and readily available for millions of daily riders.”
“There is one option that would raise more than $1 billion a year for the city’s subway and bus system — while also supporting small businesses and protecting the environment,” they continued, introducing Carroll’s $3 surcharge proposal.
Anytime, A N Y T I M E, the head of a union and a politician work together to solve a problem you can bet your last dollar that a new scheme has been launched that separates a population from their treasure.
Does anyone know of a ‘public’ transit system that even breaks even, much less turns a profit? I’m not aware of any that don’t manage to survive without public funding ie TAXES, usually from fedzilla.