California Burning Through Billions in Taxpayer Dollars for the ‘Bullet’ Train

High Speed RailCalifornia’s biggest boondoggle just broke the bank.

Not only is the massive high-speed rail project 11 years behind schedule and billions in the red, but managers are also now saying they will need to ramp up spending to hit a 2033 deadline.

California’s money pit cost taxpayers $3.1 million a day last year.

But that’s small potatoes compared to what they’ll have to shell out over the next four if they want to meet their deadline and budget, estimated most recently at $100 billion in a report last month by The New York Times.

The California High Speed Rail Authority will have to increase its daily spending by nine times.

“It’s a very aggressive spending rate,” Russell Fong, the authority’s chief financial officer told the Los Angeles Times, admitting that future goals may be difficult to achieve. …

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