Photograph by shveckle on Flickr The MTA announced the long-expected news that its economic situation is grim. In fact, MTA CEO and Executive Director Elliot Sander told reporters, “Should riders be concerned? Absolutely. Am I concerned? Absolutely.” The depressing highlights: "Tax revenues are $120 million below projections" and will be $280 million under projections by the end of the year. Rising fuel prices means the MTA is $60 million over budget. All told, the......