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Should Congress Take Over D.C.’s Failing Metro System?
by Countable
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  • Jeffrey
    12/30/2016
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    Clearly there's a funding issue in the jurisdiction as well as a liquidity issue if there's no cash for upgrades and an unfounded $3B pension liability. The WMTA head is saying 70% of the budget is spent on labor and infighting causes issues renegotiating contracts and trimming employees to cut costs, why wouldn't the WMTA file for bankruptcy? It would allow the WMTA to renegotiate those labor contracts and hopefully significantly lower the pension liability. I know that's not an ideal situation because ultimately it means large layoffs, but the federal government by its nature can't do anything efficiently or in a cost effective way. The only way a Fed takeover helps is because they have the ability to print money.

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