A Boston-based think-tank says the MBTA is in dire straits. “The MBTA’s finances are kind of in a calamitous state right now,” said Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, which just came out with a report on the financial state of the T. By 2023, the group predicts a $200 million to $400 million gap in the operations budget. By 2025, that jumps to $400 million, and by 2026, $500 million.

“Something has to give at that point,” said McAnneny. “Either fares have to be increased considerably, or other sources of revenue identified, or service cuts.”