ATProto Browser

{
  "text": "This is a big hole, and it's a hell of a thing (does anyone in government know how finance works anymore!?)\n\nThere's a ton of savings to be found at the MTA, especially in their construction and maintenance costs.\n\nBut savings is not the same as \"fully funding\"\n\nnyc.streetsblog.org/2025/05/05/n...",
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        "alt": "Hochul tried to explain the mysterious $3 billion hole at a press conference on Thursday, but her words were simply baffling.\n\n\"We're not saying. 'Find $3 billion in savings,'\" the governor said. \"It turns out that $150 million in savings can be bonded and leveraged for $3 billion more in improvements. I am very confident under Janno's leadership, [we'll] tighten the belts, find efficiency and we're going to continue seeing more revenues come in as our fare evasion strategies are unfolded and in every station.\"\n\nHere is a quick lesson in municipal borrowing: You cannot borrow money, i.e. sell bonds, backed simply by money you don't spend. You can reduce your operating costs by $150 million per year, but you can't sell bonds based on that saving.",
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  "createdAt": "2025-05-05T17:50:51.218Z"
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