Here's an example of how plain simple government incompetence leads to excessive debt.
MTA Will Spend $249M On New Cops to Save $200M on Fare Evasion
Guess this is why they don’t call it the Mathematics Transportation Authority.
In a presentation to the MTA Board on Thursday morning, MTA Chief Financial Officer Bob Foran said that Gov. Cuomo’s controversial plan to hire 500 new MTA police officers will cost the agency $249 million over the next four years — partly financed by the $200 million the agency will save over that same period through those and other cops’ anti-fare evasion efforts.
The $249 million price tag was eye-popping to activists, given Foran himself warned of a $426-million deficit projected for 2023....