The following is Occupy MBTA’s response to the MBTA’s latest proposal for service cuts and fare hikes:
Today’s proposal by MBTA does not go nearly far enough in addressing the concerns of the T-riding 99%. The MBTA claims to have listened to the thousands of riders who have flooded their meetings and demonstrated these past few months, but they seem to have missed our key message: “No Hikes! No cuts! No Layoffs!” Significant fare increases and service reductions will devastate students, seniors, low-income communities, people of color, workers, and everyone who must rely on the T. Any plan that will lead to more driving, more congestion, and more CO2 emissions is simply unacceptable. And, to make matters worse, the MBTA freely admits this is only a one-year stop-gap measure, and that we’ll be facing further austerity measures next year.
The MBTA has been presented with many solutions that would have allowed the agency to balance its books without placing the financial burden on those who can afford it the least. The MBTA’s refusal to explore those solutions – including, but not limited to, the possibility of canceling its interest rate swaps with Deutsche Bank, U.S. Bancorp (USB), and JPMorgan Chase – speaks volumes about its priorities.
We are neither placated nor discouraged by the MBTA’s latest proposal; the fight to save the T is only just beginning. On April 4, this fight will move to the State House when Occupy MBTA and our allies hold a People’s Assembly to demand a comprehensive state-wide plan for affordable and sustainable transportation that works for the 99%. Join us!
April 4 at the State House
Hearing: 3-5pm
Rally & Speak Out: 5pm until we’re done
Join us as part of the National Day of Action on Transportation to demand:
- No service cuts
- No fare hikes
- No layoffs
- No privatization of our treasured public transit system.
- A comprehensive state-wide plan for affordable and sustainable transportation that works for the 99%.
For more information on #A4 or to get involved in Occupy MBTA, please visit http://occupymbta.org/.
4 Responses to “The 99% Rejects the MBTA’s Austerity Measures”
on March 28th, 2012 at 10:04 pm #
[…] more here: The 99% Rejects the MBTA’s Austerity Measures This entry was posted in Boston and tagged deutsche-bank, fight, latest-proposal, mbta, […]
The T issued revenue bonds to finance their capital improvements and restructure their outstanding debt. And you want the bond holders to simple accept the issuer defaulting as an option?
Do any of you shiftless slackers have any idea how public financing works? You’re blissfull ignorance is only exceeded by your misplacd selfrightousness.
Since I telecommute and drive when I need to go into the office, I support a 50% increase in fares. They should also stop running the T at 7pm sharp. Everyone needs to make a sacrafice and I’m willing to accept their decision.
Actually, a significant percentage of the T’s debt was Big Dig debt inherited from the state.
And the reference to the banks above is about interest rate swaps, which have nothing to do with the issuing of bonds.
But it’s nice to know you believe in fare hikes — since you don’t ride the T! That sure sounds like shared sacrifice to me!
See you on the 4th!
You’re almost certainly trolling, given your last couple lines, but given that there seem to be many people who think along these lines, I’ll respond.
To your first point:
First, the MBTA was saddled with a massive debt that was undertaken by the state of Massachusetts to pay for the Big Dig. By what justification is the service of this debt should be the responsibility of public transit users rather than the public at large? Compounding this outrage is the fact that this debt is largely owed to banks who were bailed out by taxpayers. Had that bailout money been instead given to debtors to repay their debts, the banks would have regained their solvency because as the debts regained their worth, but instead, banks were given liquidity to shuffle accounts while still being able to squeeze as much as possible out of debtors.
Second, a bondholder should be willing to accept the risk of default. Interest is recompense for that risk; if we don’t allow defaults, then a bond is as good as cash and should bear no interest.
As to your commuting patterns, congratulations, you don’t have to use the T. Nonetheless, public transit is a common good. It reduces traffic and pollution. It makes the city more accessible and thus attractive to visitors. It allows low-income workers to work farther from their homes, alleviating some of the effects of high-density, high-unemployment areas. Allow transit to fall into disuse and disrepair, and we’re going to see our poorer communities fall into further poverty and the entire city will suffer as the economy continues to slump.