Posted on 06/08/2012 8:46:28 PM PDT by SmithL
Imagine your finances are down, and you need to cut back. You get rid of the premium cable channels, start shopping at the discount market, scrap date night at the movies, and ... buy a new house?
California politicians may decide to embark upon a similar strategy, on a far bigger scale. Even as they must ax crucial services by Friday to help close a $15.7 billion deficit, state lawmakers are weighing California's costliest project ever: a $69 billion high-speed rail line.
"You don't run your home like that," said Assemblywoman Diane Harkey, R-Dana Point, who's tried, unsuccessfully, to kill the bullet train. "We're bankrupt."
It looks so simple: Halt the train, save the budget. After all, $69 billion is three-fourths the amount of the entire state budget -- enough money in the upcoming year to give free tuition to every Cal State and University of California student, wipe out the state sales tax, fund the state's health care services subsidy and still close the budget deficit.
Of course, it's not that simple. The high-speed line would be paid for over time, not in one lump sum, with the biggest payments coming in later years; plus, most of the funding would come from outside sources. The project would consume up to 0.04 percent of next year's state budget -- not even enough to fund the California Department of Pesticide Regulation.
"It is a sound investment in our future, as well as an immediate stimulus to our struggling economy," said state Senate budget chairman Mark Leno, D-San Francisco, a project supporter. "It'll be a struggle to get there, but I think we need to face and surmount that struggle."
(Excerpt) Read more at mercurynews.com ...
- - 100 billion (pre-temporary-downward revision for election season)
- - Out-of-state prime (GE)
- - Off-shore designers (china)
- - Not needed (or wanted), who in his or her right mind would pay $100s to travel between the thriving metropolises of Merced to Bakersfield in twice the time (considering parking, ticketing, security, baggage handling a-la-airlines, and of course, the train will ALWAYS BE LATE, ALWAYS, ALWAYS!
- - The first leg, Merced to Bakersfield is scheduled for 2017, hah, it's 2020 or later. Unions = construction delays, ALWAYS.
- - What the Keynesians fail to realize is that taking 100 B from the productive sector of the California economy is so toxic to the economic climate, that it could be extraordinarily difficult to recover.
- - Net employment will be much less, businesses and taxpayers will out-migrate, and financial chaos is a possibility.
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It is utter nonsense that is unfortunately so typical of my state. We really are screwed here.
I have relatives in Bakersfield; it’s basically a fuel and breakfast stop between LA and Sacramento, but only if your taking 99 to sacto. This train will go from no where to no where.
This is the stupidest wast of money we don’t have that I have seen yet in this state. I have to wonder who the assemblymen and congress critters who are going to clean up on the land sales are?
California dreamin'.
If this is such a great idea, let private dollars fund it!
If this is such a great idea, let private dollars fund it!
If this is such a great idea, let private dollars fund it!
If this is such a great idea, let private dollars fund it!
Guess that bears repeating!
Guess that bears repeating!
Here’s the thing....if you build this really nifty high speed train that gets you somewhere in 90 minutes, that would typically take five hours, and only charges you $50....it’d be great.
The reality is that the amount of money they’d charge for a round-trip...is likely closer to $350...would stop ninety-five percent of people from showing up and playing the game.
Bad analogy. At least a house serves a useful purpose.
California is slashing its minor bills while buying a timeshare condo in Hong Kong and can’t afford the travel expenses to ever use it.
Living near Sacramento, the ONLY time I stop in Bakersfield is for a Mexican dinner on the way back from Las Vegas, and I only go to Las Vegas about every 4-5 years. And no way in heck I’m training to Las Vegas. Much rather drive and have my car available for cruising the strip.
bookmark
High speed rail mean federal money American taxpayer money used to pay the states debt.
It’s obviously a payoff to the Chinese.
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