While there’s been plenty of speculation this is the first time I’ve seen any mainstream media actually state the bike lane removal was done to appease Hasidic community… and the Posts states it as if there’s nothing wrong with it.

Ahh, but all that private debt is being shifted to the federal government, increasing the future taxes that younger people must pay and decreasing the public services and benefits they may receive. Check out this chart on what has happened to federal debt.

http://img177.imageshack.us/img177/5528/graphfeddebtrecent.jpg

In effect, to keep the economy from total collapse the federal government is ending up paying for past purchases of SUVs, McMansions, plasma screens, cruises, and executive bonuses.

Moreover, don’t draw any conclusions about New York State from the national share of indebtedness that is state and local. We have more debt as a share of our resident’s income than virtually any state, multiples of the national average, with much of it stuck on the MTA.

Based on data from the chart, I would say that the MTA is doing pretty well- State and Local debt is only 16% of the total. The bad part is that private loans are an individual’s choice, while the state divides loans unfairly by making one citizen class pay another. But assuming in the long run debt service for everyone is more or less fair, the MTA debt pales in comparison to private and corporate debt.

The cycling advocacy group Transportation Alternatives has not taken sides in the dispute.

Really? Come again?

Surely TA is against the removal of bike lanes.

Money will be borrowed at the expense of future taxpayers, riders and workers to pay for things this year.

“(and) the proposed budget that you will see (next week) will require very difficult choices.”

If the new guy was going to make such choices, rather than simply keep repeating the policies of the 1960s and early 1970s (deferred maintenance already underway, and will expand), he wouldn’t have been appointed by the legislature.

“The unnerving shortfall prompted Dellaverson to postpone the sale of $350 million of bonds originally scheduled for this week until a new 2010 budget is developed and adopted.”

The capital budget will be gutted, and after the legislature borrowed billions promising major improvements, the existing system won’t even be maintained.

“Samuelsen’s “Take Back Our Union” won the top four officer positions, Silverman said. The campaign promised a more democratic union – and a tougher stance against MTA management.”

He didn’t say it, but he meant transit riders, who are much worse off than they are. Management, like the union members, doesn’t use mass transit for the most part.

This is just one part of the total picture, which can be summarized by this chart.

http://img136.imageshack.us/img136/1461/graphtotaldebtpctofgdp.jpg