A member of the panel spoke exclusively with Metro yesterday about the commission’s findings surrounding the critical financial state of the MBTA.
“The T is not in danger of collapsing, but I think if something major isn’t done over the next several years the T gets deeper and deeper into the hole, in that they’re having to raise fares or they sacrifice maintenance of their present system — which drives down ridership,” said Michael Widmer, a member of the commission and president of the Massachusetts Taxpayers Foundation. “The danger here is that it becomes a death spiral.”
Friday, January 19, 2007
Report: T must cut costs (Boston Metro)
The city's third newspaper once again has a story not seen in the Herald or Globe. In the Friday Boston Metro has an exclusive report concerning the Commonweath's Transportation Finance Commission report on the MBTA.
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The Board's position that the State should not take over a portion of the T's debt is hypocritical. Not only was $2.9 billion of that debt transferred from the State to the T back in 2001 when the new financing arrangements were made, but that debt, and the nearly $70million increase in yearly debt servicing costs since 2001, have been driven at least in part by the Romney administration's insistence on expanding the commuter rail. The State cannot walk away from a debt that it is partially responsible for creating. The T probably does need to make some tough decisions about costs, particularly efficiency, but it cannot be left out to dry by the State if we hope to have a robust transportation system in Metro Boston.
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