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41%  
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  • Bullet train Project Nearly Triples In Cost (High Speed Rail To Nowhere)

    11/01/2011 8:39:12 AM PDT · by goldstategop · 42 replies
    Mercury News ^ | 10/31/2011 | Mike Rosenberg
    With the Golden State nearly broke, it now plans to secure funding largely by borrowing more, the Associated Press reported, though specifics were unclear. About 20 percent would come from the private sector. Until now, the state had been relying on more than $15 billion from the federal government, $10 billion from private investors and $5 billion from local governments. But the state hadn't gotten any closer to raising the money in the three years since voters approved the plan. The bullet train project, which would link San Francisco and Los Angeles with the nation's first high-speed rail line, has...