The Port Authority of New York and New Jersey (PANYNJ) just released its latest financial performance report for the six month period ended June 30. This crucial bi-state transportation agency - responsible for the construction, secure operation and healthy maintenance of the Hudson River vehicular bridges and tunnels, a trans-Hudson subway system, the NY metro region's air and seaports and the nation's highest volume commuter in the nation bus terminal - is only the most visible example of the many key transportation authorities across the Northeast-Midwest region and across the nation that are now suffering acutely from the GREATER Recession. In the PANYNJ's case, it's projected $ 3 billion revenue shortfall (through the 24-month period ending March 2022) will force drastic cut-backs in capital construction and maintenance as well as continuing reductions in it's labor force, unless the federal government replaces those revenue losses. If there is another regional or local transportation authority in the country that isn't experiencing similar GREATER Recession impacts, and having to take analogous pro-recessionary steps, I haven't heard of it.
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