April 3rd, 2012


All aboard?

I'm still dreading the overall result of prop 1A from 2008, a bond issue for $10 billion or so to build highspeed rail in CA. If you recall, I came out agin it, back when the cost of the entire project was $45 billion. More recent estimates put the number at $98 billion. Currently, after some jiggery-pokery and scale-back, the new number is $68 billion.

"But there remain significant doubts from analysts and even supporters over whether the new strategy is financially feasible or politically viable. It concludes by asking the Legislature in the next two months to start building the project even with a $55 billion funding shortfall. The plan is banking on the federal government to provide $42 billion and private investors to contribute $13 billion in hypothetical funding -- or else risk losing existing federal grants and seeing the project fold altogether."

As I said before: Ever hear of Ogdenville and North Haverbrook?

For reference.