New York City transit system accumulates billions more in bond debt

Sam Dalton, Sandy English  |  February 14, 2020

By Sam Dalton and Sandy English, includes “The issuing of the bonds highlights the crisis the transit system is in. They add to the already massive $44 billion debt that the authority has racked up to pay for the repairs and modernization to what is, in many cases, a 116-year old infrastructure. ... According to a new report issued by Truth in Accounting (TIA) this month, New York City holds the largest debt of any municipality in the US, at $186 billion …”

Read the full article on: World Socialist Web Site

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