Comments on: The Biggest Fare Hike Factor? It Could Be MTA Debt http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/ Covering the New York City Streets Renaissance Mon, 23 Nov 2009 11:07:22 -0500 http://wordpress.org/?v=2.8 hourly 1 By: Larry Littlefield http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/comment-page-1/#comment-54244 Larry Littlefield Tue, 29 Jul 2008 12:52:29 +0000 http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/#comment-54244 What really kills me is that with fixed-rate debt at all time lows, the MTA shifted to floating rate debt to save a few nickels for Pataki to give a way. That could potentially kill us right there. I'm glad Bear Stearns folded, and wish they had gotten the original $2 per share instead of $10. What really kills me is that with fixed-rate debt at all time lows, the MTA shifted to floating rate debt to save a few nickels for Pataki to give a way.

That could potentially kill us right there. I'm glad Bear Stearns folded, and wish they had gotten the original $2 per share instead of $10.

]]> By: Niccolo Machiavelli http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/comment-page-1/#comment-54206 Niccolo Machiavelli Mon, 28 Jul 2008 21:26:29 +0000 http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/#comment-54206 Since when does capitalism work with "real money"? Its not so much the debt as what it bought. Larry is correct to point out that it bought a lot of short term things, especially routine maintenance. Since when does capitalism work with "real money"? Its not so much the debt as what it bought. Larry is correct to point out that it bought a lot of short term things, especially routine maintenance.

]]> By: Ian Turner http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/comment-page-1/#comment-54202 Ian Turner Mon, 28 Jul 2008 20:50:57 +0000 http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/#comment-54202 Don't forget that the feds are also running up their share of debt, it's not entirely accurate to say that their contributions are "real money", either. Don't forget that the feds are also running up their share of debt, it's not entirely accurate to say that their contributions are "real money", either.

]]> By: Moser http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/comment-page-1/#comment-54175 Moser Mon, 28 Jul 2008 16:08:48 +0000 http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/#comment-54175 Larry, not entirely correct. The 2005 plan had an increase in metro-area real estate transfer taxes dedicated to the MTA. That helped generate more revenue than anticipated the last couple of years but is obviously not the steadiest of revenue-flows for anyone these days. Also, re: your reference to "1999" I don't believe there was any real revenue addition during the Pataki years other than what I've just mentioned. There was a major increase in the petroleum business tax in 1993, allocated to the MTA and the state's highway fund. Larry, not entirely correct. The 2005 plan had an increase in metro-area real estate transfer taxes dedicated to the MTA. That helped generate more revenue than anticipated the last couple of years but is obviously not the steadiest of revenue-flows for anyone these days. Also, re: your reference to "1999" I don't believe there was any real revenue addition during the Pataki years other than what I've just mentioned. There was a major increase in the petroleum business tax in 1993, allocated to the MTA and the state's highway fund.

]]> By: Susan Donovan http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/comment-page-1/#comment-54174 Susan Donovan Mon, 28 Jul 2008 16:03:19 +0000 http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/#comment-54174 What's with only getting 2 percent from the city and state in 2000-2004? That's pathetic! What's with only getting 2 percent from the city and state in 2000-2004? That's pathetic!

]]> By: Transit Guy http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/comment-page-1/#comment-54173 Transit Guy Mon, 28 Jul 2008 15:58:29 +0000 http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/#comment-54173 Quick note to point out that Federal money usually pays for 80% of road projects. Quick note to point out that Federal money usually pays for 80% of road projects.

]]> By: Larry Littlefield http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/comment-page-1/#comment-54170 Larry Littlefield Mon, 28 Jul 2008 15:43:17 +0000 http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/#comment-54170 The Times missed something. It isn't as if today's and yesterday's state residents paid for 19% of the 2005 to 2009 MTA Capital plan. The "state share" was also borrowed. The only money since 1999 that has been real money, not borrowed money, is the federal share. And remember, most of those "capital expenditures" were for ongoing routine normal replacement, maintenance and catch up maintenance, not anything new. Next, they'll try to tell us that after borrowing $25.7 billion, we cannot afford the new improvements. The Times missed something. It isn't as if today's and yesterday's state residents paid for 19% of the 2005 to 2009 MTA Capital plan. The "state share" was also borrowed.

The only money since 1999 that has been real money, not borrowed money, is the federal share.

And remember, most of those "capital expenditures" were for ongoing routine normal replacement, maintenance and catch up maintenance, not anything new.

Next, they'll try to tell us that after borrowing $25.7 billion, we cannot afford the new improvements.

]]> By: Shemp http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/comment-page-1/#comment-54169 Shemp Mon, 28 Jul 2008 15:41:43 +0000 http://www.streetsblog.org/2008/07/28/the-biggest-fare-hike-factor-it-could-be-mta-debt/#comment-54169 What do you mean "could be"? What do you mean "could be"?

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