Tag: debt
The MTA is reportedly in at least $34 billion deep. That’s a pretty big number, but a new report by the Straphangers Campaign really puts it into perspective after finding that the MTA’s mountain of debt is higher than at least 30 countries. The New York Daily News reports: Syria’s national debt is pegged at […]
Fares for the MTA would have to increase by 15% if they are forced to borrow money to close budget gaps. According to the state controller Thomas DiNapoli, for every $1 billion the MTA borrows they would have to pay $70 million (a 1% fare-hike) in debt service. With $15 billion needed to cover the MTA’s […]
