Security costs overwhelm New York port authority

[NEW YORK] The Port Authority of New York and New Jersey, formed 93 years ago to manage marine terminals on the Hudson River, is increasingly operating as a security agency that runs bridges, tunnels and airports.

Spending on policing has doubled since the Sept 11, 2001, terrorist attacks and now consumes almost a quarter of its US$2.8 billion operating budget. The authority, which also owns the World Trade Center si…