New York’s Metropolitan Transportation Authority needs to control its rising debt or it risks a drastic deterioration of service, budget watchdogs say. The nation’s largest transit agency already has a debt load surpassing $45 billion, mostly to pay for new buses, trains and infrastructure. But it is now considering borrowing billions of dollars just to keep its system—including New York City’s subway—running during the new coronavirus pandemic.

Source: Wall Street Journal August 20, 2020 13:00 UTC