High Speed Financial Train Wreck


From CalWatchdog:

The news that the California High-Speed Rail Authority finallyrevealed its long-awaited business plan only made the state’s residents more suspicious of the monster rail system. With a $99 billion price tag, a 300 percent cost increase since the 2008 voter-approved measure, and a claim of more than 1 million jobs created, High-Speed Rail appears to be taking over as the WPA project of California’s future.

But many say that $99 million is not the final figure. The the plan, originally billed as a $9.9 billion bond measure for a $40 billion train system, now has unlimited borrowing and spending, as well as a yearly $5.3 billion cost for upkeep.

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Comments

  1. NO MONEY! THE TANK IS EMPTY! Social progressives have been neglected and antagonized business interests into avoiding, or fleeing the state for decades. Those that stay are attacked with blunt force regulations that either discourage or stunt business growth. State coffers have been exhausted into a 20 million dollar debt by progressivist spending sprees like lucretive state bureaucrat benefits, social programs, and glittering self-flattering expenditures like this train. All this has been done under the delusion that you can, ‘spend your way into Utopia’. Clearly, you can’t, but Sacramento still doesn’t get it. Election times are coming. Get ready to make a REAL change. VOTE!

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