The $3.3 Billion Dollar Question

Blogger John de Guzman has noticed new PATH posters stating the Port Authority's undertaking $3.3 billion in capital expenditures, and more importantly, thinks the number a little high.

Last year, the Port Authority laid out a 10 year spending plan allocating money for various projects. Not surprisingly, a quarter of the capital budget is headed straight to security improvements, meaning most riders will never see the results. Another $850 million or so is going to replace the 340 cars the system uses; a full scale model was shown off last month, and the cars will begin showing up for service over the next four years. Another $500 million is projected for signal upgrades which ultimately will allow an increase in peak capacity, to be finished sometime around 2014. Another $220 million is headed for station expansion at Grove Street and Harrison, allowing for 10 car trains on the World Trade Center Line.

$3.3 Billion sounds rather impressive, until you consider its all part of a ten year program; averaged out, thats a mere $330 million dollars per annum. Of course, posters with with "$.33 billion in PATH Improvements" probably wouldn't garner as much attention.