D.C. Metro $18 Billion in Debt: Money Issues Worse Than Train Operations
Washington Times reports that the D.C. Metro will have $18 Billion worth of debt over the next 10 years.
This week, Metro has seen many major headlines regarding fires and trains in need of immediate repairs. Earlier in the week, Time&Trees posted this video of a Silver Spring Station Train leaking black smoke from the bottom.
As a response to these devastating headlines, Metro’s new general manager held a meeting about his new plan for renovation with over 200 metro executives and professionals.
This plan was introduced a day after the metro had its eighth serious smoke-and-fire incident in two weeks.
The $18 billion debt that the Metro will be faced with over the next ten years was reported on Wednesday by Metro Board Chairman Jack Evans. Mr. Evans also reported that over the next 10 years, Metro maintenance costs will be over $10 billion. It will also cost another $3 billion to replace the aging railroad cars with new, updated ones.
With an anticipated $18 billion debt and severe operational issues going viral, the Metro has layers of problems with no immediate solutions in sight.
Check out the Washington Times Article here for more information on the financial issues of the D.C. Metro…