New York's subway riders are going Galt

Like public transit?  Want more public transit, as the lefties prescribe?  Well, here's your public transit: the New York subway system is out of money and now in a "death spiral," according to a report in the Guardian: Officials at the Metropolitan Transportation Authority (MTA) warned last week that without a major infusion of cash, they will have to drastically cut service or increase fares on the system that carries millions of New Yorkers around the city. Here are the ugly details: The system's financial straits have gotten worse in part because it has fewer riders, and is collecting less money in fares.  Expected passenger revenue over a five-year period has dropped by $485m since July. "They've entered this death spiral," said Benjamin Kabak, who runs the transit website Second Avenue Sagas.  "The subway service and the bus service has [sic] become unreliable enough for...(Read Full Post)
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