2nd Avenue subway at a dead end?

From the Times Ledger:

The Second Avenue subway is renowned as the most famous subway never built, but now the project could once again face a threat, this time from the MTA’s maxed-out credit card and a financially beleaguered governor.

Gov. David Paterson announced last week the Metropolitan Transportation Authority’s proposed 2010-14 capital program was “simply unaffordable given New York’s current fiscal condition.”

“I will not agree to raise taxes, which would be required to fund the plan,” he said.

Paterson said the state could not afford upgrades to city mass transit and upstate roads and bridges “until the economy improves, the federal government provides adequate multi-year funding and the Legislature joins me to seriously address the structural imbalance in the state budget.”