'Surplus' Claim Takes Sanity Off the Rails (NM-Richardson's Railroad)

The Albuquerque Journal ^ | November 5, 2010 | ABQJournal Editorial Staff

[CedarDave]

Only in government can you run almost entirely on taxpayer money, get not one but two emergency infusions, spend all but $250,000-or-so of your handouts, and have the audacity to claim you have a surplus.

If that's the track of reasoning the New Mexico Rail Runner really wants to travel, then officials owe New Mexico consumers a refund.

Yes, the commuter train's revenues outpaced expenditures by $254,481 for fiscal 2010 ($22,261,918 vs. $22,007,437).

But only $2.927 million of that revenue came from the fare box.

A big chunk — $11.95 million — came from a regional sales tax for mass transit. The rest came from a variety of sources, most also taxpayer funded — including the feds, the state, the soon-to-be-empty coal-car that is the stimulus —as well as the private and tax-supported railroads for use of the tracks.

~~snip~~

... claiming a surplus when officials simply failed to burn through all their taxpayer cash? That takes sanity off the rails.

[CedarDave]

Good editorial. I expect the black hole known at the Rail Runner to be cut back drastically or to raise fares dramatically to weather the coming cash crunch in state government.

[CedarDave]

NM list PING!

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[Leisler]

bump!

[Spitzensparkin1]

Cut back all of big Bill's boondoggles. Look out washington, here he comes...

[Paladin2]

"Yes, the commuter train's revenues outpaced expenditures by $254,481 for fiscal 2010 ($22,261,918 vs. $22,007,437). But only $2.927 million of that revenue came from the fare box. A big chunk — $11.95 million — came from a regional sales tax for mass transit. The rest came from a variety of sources, most also taxpayer funded — including the feds, the state, the soon-to-be-empty coal-car that is the stimulus —as well as the private and tax-supported railroads for use of the tracks."

Where is Willie just when one needs the leftist economics spin to 'splain how this works so well and puts it to the Koch oil men?

[PugetSoundSoldier]

Where’s Willie when you need him...

[Toddsterpatriot]

Willie math!

[Enchante]

hey, it’s slightly more than 10% of the revenues coming from rider fares — the system is well on its way to becoming self-supporting!! </sarcasm>

[NonValueAdded]

Willie was banned.

[Toddsterpatriot]

He’s just pouting.

[Paladin2]

"He’s just pouting."

Willie just finally got smacked hard enough to give it up here (for how long? Who knows?).

[BluH2o]

Visited Santa Fe, NM last fall ... witnessed the Rail
Runner departing Santa Fe in the AM for Albuquerque and points south, the train was nearly empty. Live in CO and travel down to NM from time to time ... enough to know that there is no way the Rail Runner has a chance in hell of ever breaking even, much less making a profit. This is a government project that will be tax payer subsidized for decades ... guaranteed.

[CedarDave]

Willie was banned.

No, he wasn't banned -- just got warned by Jim that if he didn't give it up he would be zotted. As Jim put it: "Zip it or zot it." His profile is still active and includes his opus.

[woofie]

They could make more money if they sold popcorn and cold drinks on the train

[CedarDave]

Maybe one car a lounge car with beer and wine for sale (one drink per customer, don’t want a DUI’s after arrival at the station).

[OneWingedShark]

Thanks for the ping on this.
I wonder what will happen to the Dollar Runner now that it’s lost Richardson [and his ‘successor’].

[okie01]

$22MM in expenses to collect $2.9MM in revenues. Spend a buck to earn 13 cents.

It had no chance to start with. But that's even worse than we thought.

The new guv would be advised to ashcan the whole thing -- put up signs along the rusty rails identifying it as "The Bill Richardson Memorial Boondoggle".

[Kartographer]

They need to $h!T CAN the whole thing. Though I think a weekend dinner train running from Albuquerque to Santa Fe would make some money. Privately financed of course!

[joelt]

It is called the Rail Runner. But I think RailRoader is better. Think I did a back of thre envelope calculation that this $500 million boondoogle takes 2400 cars a day off a 75 mile stretch of I25... A HORRIBLE use of taxpayer funds.And the $500 Mill is only the capital outlay;not the operating losses. But libs everywhere love the chu-chu.

[GeronL]

A surplus of subsidies.