As for expenses, it cost $2.1 billion more to run the mass transit system in 2010 than it did in 2005 including inflation--that's a 23 percent increase over 2005 levels. While many are quick to say that labor costs are the culprit, the reality is that other costs are rising much more quickly. Labor costs have increased 16 percent since 2005, but non-labor costs have increased at twice that rate. Particularly troublesome for the MTA is the cost of past borrowing, the payments for which have increased by 54 percent since 2005.
John Petro: A New Year and a New Fare, But MTA Budget the Same Old Mess