Skip to comments.APNewsBreak: Calif. rail project to cost $98B
Posted on 10/31/2011 8:00:55 PM PDT by Free ThinkerNY
SACRAMENTO, Calif. (AP) -- The new business plan for California's high-speed rail system shows the nation's most ambitious state rail project could cost nearly $100 billion in inflation-adjusted funding over a 20-year construction period but also would be profitable even at the lowest ridership estimates and would not require public operating subsidies, according to a draft copy of the plan shared late Monday with The Associated Press.
The report estimates the actual cost at $98.5 billion if the route between San Francisco and Anaheim is completed in 2033.
(Excerpt) Read more at hosted.ap.org ...
I was only off by couple billion years ago when this albatross arose from the sea of debt looking for a new perch.
What a High-Speed Rail Job to HeLL.
This is going to make good the losses of all the Democrat politicians who had their campaign money ripped off by that mutant Kinde Durkee. Now all they have to do is go to the nearest BofA and get a loan against the kickbacks they’ll get from the unions and suppliers for this project.
Ain’t life grand?
Does anybody really believe this?
Anybody? Save Willie Green, of course...
” profitable even at the lowest ridership estimates and would not require public operating subsidies,....”
You have to read that closely. No “operating subsidies” required, (so they say). However, there’s no mention of ever actually paying off the capital grant. If you gave me a free railway, I might be able to operate it “profitably”. Just don’t expect to get your $100 billion back ... ever.
I think the real question is what do they consider profitable. I would bet that they are only including the day to day operating costs and the taxpayer is expected to suck up the $100 billion expenditure. I bet the cost ends up being closer to $200 billion and once it is up and running it turns into the slowest “high speed” train in the world.
at least it goes inland.
it will destroy any local it touches.
Democrats flunk basic accounting. This project generates payola especially for the labor cartels. For the taxpayer, this project is just another nail in the budget coffin. It is only profitable if the cost to build and operate the rail lines are not included.
The Federal Congress should pass a bill congratulating Kalifornia for their planning ability and guaranteeing Kali that the Fed will not take any profits from the hi speed train while also affirming that the Fed will not make any contributions to assist should the planning numbers prove to be full of Obama.
And there are actually people stupid enough to believe this!
No, I do not believe because it is a lie.
So, how are they going to get someone to build it for all the money they don’t have? Unlike the Federal Government, they can’t just print money. The chances of this actually happening is somewhere between zilch and a Bond measure nobody would vote for in the next election.
This is political gas passing and democrap wishthink at best.
Note for Democraps, you have raided the treasury, there are not going to be any more free gravy trains.
20 years to build!?!?!?!? They’re taking their sweet time
Its not a railroad...its a perpetual union employment machine...requiring DemoCrat politicians to operate....
That cost is nothing compared to what the union workers that run it will cost in legacy expenses.
If they say 98, it will come in at 198