Drowning in debt
Oct 30, 2019 | 941 views | 0 0 comments | 99 99 recommendations | email to a friend | print
Dear Editor,

Moody's Investment Firm predicts that the proposed MTA $51 Billion 2020-2024 Five Year Capital Plan will add $38 billion in longterm debt. This is on top of the MTA's current $44 billion debt.

Don't be surprised if this new plan is reduced by billions. There may also be future service cuts, reduction in employee salary increases, delays in routine maintenance, reduction in capital projects or delays of other capital projects until the next MTA 2025-2029 Five Year Capital Plan.

The MTA never seems to pay its debts, but just keeps on borrowing more to pay for future capital projects. If you or I managed our finances like the MTA, we would be serving hard time in debtors prison.

Sincerely,

Larry Penner

Great Neck

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