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Originally Posted by BrownTown
I don't know what the regulations are like in NYC so maybe it's just impossible for them to ever get something done quickly, but IMO the biggest problems with all these MTA projects is how LONG they take. Keep in mind that you don't start paying off a project until it's operational, but you are paying interest on the bonds from the moment they are issued. In long projects this can mean that the delays themselves add billions to the cost (in capitalized interest) in addition to being annoying for everyone who wishes the project was done earlier. Having a project run for 10-15 years because you don't have a revenue stream to finish it in 5 years makes the final cost FAR higher. They need to find a way to get this money up front and tighten the schedules up a lot. If the oil industry can build a 15 Billion dollar facility in 3-4 years why does it take the government 10-15 years? I'm sure a lot of it has to do with the regulations in Texas verse New York, but come on, you can't tell me there is any real engineering reason why these projects can't get done far quicker and the interest payments reduced by billions as a result.
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Interesting and valid points, I think. Texas is not the financial center of America or maybe the world, New York City is. Higher interest costs feeds the New York City economy better than it would in Texas.
Which might explain why New York politicians like deficit spending far more than rural politicians in the fly over states.
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