As Revenue Falls, M.T.A.’s Deficit Could Rise by $650 Million
(Source: NYTimes.com)
Plummeting tax and fare revenues that have been depressed further by the ailing economy could increase the Metropolitan Transportation Authority’s budget deficit this year by $650 million, according to a new estimate made public on Monday. If the doomsday forecast is borne out, the authority’s deficit this year could grow to nearly $2 billion.
“This is obviously breathtaking,” Gary Dellaverson, the authority’s chief financial officer, said as he presented the projections to a meeting of the authority board’s finance committee.
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