NYC Subway Chief Warns of ‘Death Spiral’ Without $40 Billion Fix

This video was published on YouTube on November 28. 

By Henry Goldman

The Metropolitan Transportation Authority, which manages New York’s transit system, is at a crossroads after decades of underfunding and neglect.

It either invests as much as $40 billion over the next decade in an overhaul, or it descends into a “death spiral,” says Andy Byford, who oversees the subways and buses.

That’s the pitch Byford, 53, is making to disgruntled riders and taxpayers at town-hall meetings, to the City Council during hours of testimony, and to business executives at breakfasts and other gatherings.

“You don’t get the billions you need by just going to Albany with a begging bowl,” Byford, recruited a year ago to run New York City Transit, told executives at a Crain’s Magazine breakfast this month.

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Source: Bloomberg (via Empire Report New York)