High-speed rail dependent on $55 billion in federal funds

From California Watch:

Although planners of California’s bullet train won praise last week for candor about the train’s cost, an analysis of their 230-page plan shows they are still making highly speculative assumptions about funding and ridership.

Despite hostility toward the project from Republicans in Congress, the California High-Speed Rail Authority expects to receive $55 billion in federal grants – including $13 billion in the next 10 years.

The planners are also counting on Congress to approve a new form of infrastructure bonds – and to get 27 percent, or $13 billion, of all those bonds issued nationwide.

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Comments

  1. Remember the bridge to nowhere in Alaska? This is the train to nowhere! If I am not mistaken, I think the U S of A is very near bankruptcy. This is like “Alice in wonderland” with elected officials walking around and spending money like we had it. We have NO treasury. Will China buy more treasury notes to fund this ihsanity?

  2. Victoria Coots says

    This boondoggle needs to be dumped. All that has happened is it grows in cost and it will not do what is purported by its backers.
    Send that money back to the taxpayers. We can accomplish more positive with our own money, than government every thought about doing.
    All government has done is make matters worse economically.
    Stop the insanity.

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