What do John McCain, PATH (Port Authority Trans-Hudson), and the national debt have in common, besides all being very old? More than you might think!
PATH responded reasonably well to the fiasco -- nobody was hurt and service was restored the next morning. But as I waited for the E train to take me to the
The real story is more complex. Myriad government regulations pushed the H&M, and many other fine American railroads, into bankruptcy. Even with the fare increase, the PATH system is indeed cheap. Anyone who has used it, however, knows that the stations are oppressively hot and dank and the rides slow, herky jerky, and crowded. The system is in the middle of getting a long overdue facelift but the improvements made thus far have been marginal at best. And much of the money for those improvements, and indeed the system’s day-to-day operations, originate in cross subsidies from the Port Authority’s more lucrative assets, like its bridges. Were the Port Authority a for-profit company, it would have long since sold PATH to an entity better able to run it. If