$175 million. That is the current projected budget gap for Metro for the fiscal year. That is a gap some $30m larger than what was predicted just three months ago and you may be paying the difference. WaPo wrote today that Metro’s managers recommended this morning that up to $92 million of that gap be made up through fare hikes. That would require a full 25 cent increase on each fare, bus and rail, to cover 50% of the total shortfall. But why is Metro even worse off than expected?
Well revenues are down, of course. Way down. But why?
Officials said the main reason for the growing gap is the bad economy, which has meant fewer riders and less revenue.
Friends, you and I and everyone in between know that the economy, however recessed it might be, is NOT the reason Metro’s revenues are falling like crazy. Job loss is not why ridership is far below estimates. Does anyone even remotely believe this? Of course the economy has hurt every business, and Metro has to be run like a business (sort of). But COME ON WMATA. Walk up to a mirror and the answer to your falling revenue will look you right straight in the face.