Saturday, March 17, 2012

You don't always get what you pay for

From the NY Post:

It’s no secret that commuters are likely to face steep MTA fare and toll hikes in 2013...and again in 2015 — but New Yorkers might also want to know how all that money is going to be spent.

Alas, they might not like the answer.

Because, as it turns out, every last penny from the fare and toll bumps will be gobbled up by the hungry hungry hippos of the Transport Workers Union.
That’s right: Even though the 7.5% fare and toll hikes will raise almost $1.9 billion cumulatively over the next four years, the cost of TWU benefits — including, notably, pensions — will surge by an alarming $2.4 billion over that same time span.

That’s about 26% more than the fare hike.

In other words, all your extra fare and toll dollars will go into the union’s already well-padded retirement and health-care accounts.

That was the painful message from an MTA official who spoke at the City Council’s Transportation Committee on Tuesday. He warned that even as straphangers are forced to dig deeper than ever, they won’t be getting any bang for their buck — or see any of the recently canceled bus and subway service restored.

Meanwhile, commuters will have to pony up: MetroCards are expected to shoot up to $167 a month by 2017, according to transit advocate Gene Russianoff — which is just a nose shy of $2,000 a year.

6 comments:

Anonymous said...

I would rather pay for their pensions than foot the bill for tax breaks for developers.

Ever work in a token booth or take a train out for a 90 minute run ....

and have to hit the facilities?

Deke DaSilva said...

In other words, all your extra fare and toll dollars will go into the union’s already well-padded retirement and health-care accounts.

Yes, but the unions are Democrats! They're the GOOD GUYS! Why should we care if the GOOD GUYS are robbing us?

I would rather pay for their pensions than foot the bill for tax breaks for developers.

Spoken like a typical Tammany Hall Democrat!

H.G.K. said...

hehehehe

if ya only knew 'Deke' if ya only knew....

Anonymous said...

no one is comlaining that cuomo is raising welfare payments by 5%...........

Anonymous said...

no one is comlaining that cuomo is raising welfare payments by 5%...........
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'TO TWEED' FROM GANGS OF NEW YORK:

Boss Tweed:

You may or may not know, Bill, that everyday I go down to the waterfront with hot soup for the Irish as they come ashore.

Its part of building a political base.

Anony2 said...

Yes, the TWU pensions and healthcare is costing us more, but if interest levels were above 1% they wouldn't need to raise fares!