After years of defeats and futility, Blumenauer is convinced the odds are increasing that Congress could approve this investing as much as $50 billion to improve infrastructure with more next year if Obama is elected.I'm sure we'll see more discussion of this as we get closer to and after election day. Depending on who gets elected, it could break either way. I've already seen a number of opposition blogs and talkers posting an earlier post from the DOT's economist that was posted to Ma Peters blog. That post has also been discussed by Ryan as well. I remember when people were saying Gore and Bush were the same. Even though they were different, no one would make such a statement today with the current candidates and on issues like this.
Tuesday, October 21, 2008
The Earl of Transit
TODcasts Available from MTC
Repaving on the Orange Line
Eugene BRT Commercial
Monday, October 20, 2008
Transit Trouble Coming from Wall Street
It hasn't happened yet, but if it does, the agency would have no choice but to slash service drastically. It could also hit BART, Muni, WMATA, and the CTA though there was no hint AIG was involved in those as well.Things started to go downhill when AIG ran short of cash after running up billions in losses tied to the housing slump. Its credit ratings were slashed and the firm was on the verge of collapse last month when it was bailed out by the federal government.
The lower credit ratings triggered a clause in the lease-back agreements that require the MTA to either find a new firm to guarantee the deals, or reimburse investors for their down payments and lost tax benefits, — a scenario that could cost the transit agency between $100 million and $300 million.
Many of the nation’s largest transit agencies participated in such deals. Among them are the San Francisco Muni system, the BART rail system in the Bay Area, the Chicago Transit Authority and the Washington, D.C., Metro system.
Signs of the Apocolypse
Investment Spending
And as people like Minnesota congressman James Oberstar have pointed out, the failure to separate government investment from government consumption has perverse effects on how the government spends money, leading it to emphasize projects that cost less on an annual basis but more on a long-term basis, while also leading us to underestimate the benefits to the economy at large of investments in things like infrastructure, basic research, and so on.As Oberstar said:
Many argue that our current method of accounting biases spending decisions against physical infrastructure by requiring infrastructure to be paid for all at once rather than over its useful life. Thus, infrastructure investments are not judged on their long-term economic return, but rather on a distorted view of their "up-front" impact on the budget.H/T Bellows
Sunday, October 19, 2008
No Typewriters?
With gas prices coming down many transit agencies might be feeling a bit better about their balance sheets. But it's a short term deal. The oil cartel is looking to boost prices again. I feel like we need to invest more in electric transit including trolleybuses on core routes. Unfortunately, a trolleybus revolution does not seem to be upon us. Wires baby wires?
October in San Francisco
Muni LRV at Dolores Park
The Derby had an attendance of 75,000.
People were hanging from windows and fire escapes
Lots of trespassers on the private ROW
Soap Box Vehicles. A hamster wheel that spun and a baseball
Here are a few Videos from the Derby. My favorite was the Death Star, but the fastest I saw was the fire truck....woosh.
Fire Truck
Death Star
Rubicks Cube
Queen Sized Microcosm
...Parker said he'll likely brainstorm other ways to raise money so rail lines can be built sooner.After years of spending on things other than transit, the Mr. Parker has the right idea about trying to catch up, which would make it cheaper in the long run. Their 10 year wait for the first line did nothing but cause project inflation and almost lost them thier funding source all together with the referendum last year. Yet Pat McCrory, the Mayor, Gubernatorial candidate, and staunch transit supporter, is against the idea of using any funding outside of the current half cent funding stream.
...
With the cost of raw materials rising, Parker believes it's important to build Charlotte's rapid transit in the next decade, rather than by 2035, the finish line in the current plan. If the federal government isn't willing to send more money to CATS, Parker said he may bring the Metropolitan Transit Commission and the Charlotte City Council options.
McCrory said this week he doesn't want to consider a new tax or bond to build the transit system sooner. CATS already wants to use some property taxes to build the commuter rail line, and the city of Charlotte is considering the same for the streetcar.
“We'll have to live within the confines of the half-cent sales tax,” McCrory said. “During these economic times we'll have to be both economically and politically pragmatic. And at times, patient.”
In transit funding, patience costs money, and there are other ways to pay for transit projects. Because transit creates value that often isn't credited to it, there needs to be more attention paid to the value is created and capturing it to pay for the project. Putting a cage on it isn't the answer.