In California’s capital of Sacramento, rapid transit has been in terrible shape, but not for lack of spending on management. As we noted, after hiring Mike Wiley as manager, the RT district plunged into financial distress, tapping reserve accounts to balance its budget and raising fares 10 percent. Though a major bust as transit…
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In what is almost an annual tradition now, the U.S. Congress will soon come up on the deadline where it must either approve a new increase in the statutory debt ceiling, the total amount of public debt outstanding that the U.S. government is officially allowed to have on its books, or risk defaulting on…
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