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Sunday, November 6, 2011

High-speed train boondoggle doubles in price

November 1st, 2011, 12:24 pm · · posted by

After being criticized for a difficult-to-believe business plan, California’s High-Speed Rail Authority has reworked its numbers to win political support. Ready for this? The price just doubled. It’s now practically $100 billion.
Of course, that’s triple what it started out at in 2008 when voters were lied to and told this fanciful idea could be done affordably.
Oh one more thing… Building this pipe dream will take 13 more years than they said it would. Instead of finishing in 2020, it’ll be done in 2033. If you believe that, hold on to your wallet. The wild ride is just beginning.
As we have said repeatedly, this government sink hole for your money was unrealistic, too expensive and misrepresented from the start. As others are now beginning to suggest, we say it’s time for voters to undo the damage they set in motion in 2008 by approving bonds to pay for what now is a small fraction of the cost.
Is there anyone in California left who believe these people? Does anyone honestly think $98 billion will be the limit? Does anyone want to pony up the tens of billions the train people are short of? Does anyone believe it will be done by 2033? Or within anyone’s lifetime now drawing a breath?
We’ll address this more fully on the editorial pages later this this week. But for now, how’s this for a slogan? “Kill the boondoggle express!”

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