Expert panel recommends against CA high-speed rail

Discussion in 'General Discussion | Travel' started by viguera, Jan 4, 2012.  |  Print Topic

  1. viguera
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    viguera Gold Member

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    An interesting article that highlights the enormous financial requirements for high speed rail in the US, something that has been discussed here quite a few times.

    http://www.mercurynews.com/top-stories/ci_19668833

    The panel is PRO high-speed rail, but warned that the $99 billion project would present "immense financial risk" to the state of California. The project originally was slated to cost $30 billion only a few years ago when it was approved, and who knows exactly how much it will actually end up costing.

    At the end of the day you see why they would have to say no... the plan is to authorize $2.7 billion in state bonds to match $3.3 billion in federal money, just to build a portion of the track in the Central Valley without a clear long-term funding source.

    So it's basically spending all the money that you have, so you don't lose the matching money, without a clear indication how you're going to actually pay to finish the project. Yeah, that's a solid business idea. :)
     
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  2. MSPeconomist
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    MSPeconomist Gold Member

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    Not surprising.
     
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  3. TAHKUCT
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    TAHKUCT Gold Member

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  4. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    I'd love to see high speed rail (it would pass less than a mile from my house, according to current plans).

    But the price tag seems too high. I am not an expert, but I just cannot imagine that the Japanese, French and Germans spent that much money per mile on their high speed rail systems. Maybe we should do what we do best -- outsource the whole thing :)
     
  5. RestlessLocationSyndrome
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    RestlessLocationSyndrome Silver Member

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    Just another example of stupid people making stupid decisions. I'm so glad that we have people in power making decisions without the ability to prioritize the use of limited resources.
     

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