CA: High-speed rail price tag soars again, this time on pace to surpass $60 billion

Mercury News ^ | 8/10/11 | Mike Rosenberg

[NormsRevenge]

For the second time since voters approved California's massive bullet train project, the state on Tuesday raised the total price tag for the first stretch by several billion dollars -- and now the cost for the entire rail line is on pace to skyrocket to an eye-popping $60 billion to $80 billion or even more.

The latest estimates put the cash-strapped state even further behind in bankrolling its biggest, and one of its most polarizing, public works plans ever, as California struggles to secure funds from shy investors and broke governments. Still, project officials are ramping up to spend billions of dollars to break ground on the rail line in the Central Valley next year and hope to find the rest of the money to pay for the system later. It's a plan state leaders look increasingly likely to veto.

"It could be well into $60 billion, and who knows where it ends. This is really very serious and needs to stop in its tracks," said state Sen. Alan Lowenthal, D-Long Beach, chairman of the Senate committee overseeing the project. "We can't just be acting as if someone's out there giving us wheelbarrows full of money, and it's just coming. This is not the way we should be operating."

The California High-Speed Rail Authority's new cost estimates released Tuesday show the initial stretch of construction between Merced and Bakersfield will cost $10 billion to $13.9 billion depending on how it's built. Project planners had previously pegged the section at $6.8 billion.

If the cost of the entire project balloons at the same pace as the Central Valley section, the San Francisco-to-Anaheim railroad would cost from $63 billion to $87 billion, .. And those figures do not include inflation, which could push the final cost toward a staggering $100 billion.

[NormsRevenge]

In the words of Al Gore.. B*lls**t!!

This puppy will cost closer to 100 Billion and would likely exceed that figure.

Nothing gets built for this state at the original estimate.. Nothing.

[Jeff Chandler]

Unexpectedly?

[E. Pluribus Unum]

It will be a trillion dollars before it’s over.

[ken21]

whatta waste of money.

[blueunicorn6]

Follow the money. Some politicians are already skimming money on this.

[TexasFreeper2009]

It’s a good thing California is in such good financial shape and has billions of extra dollars sitting around to be able to afford this kind of luxury. .... oh wait!

California is BROKE! what the heck are they doing spending a dime on this kind of crud.

[lonerepubinma]

AHH !! Finally something to knock Boston’s “BIG DIG “ off the top of the list of boondoggles.

[Brookhaven]

This is really very serious and needs to stop in its tracks," said state Sen. Alan Lowenthal, D-Long Beach

When even Dumbocrats can see the obvious problem we know the tide has finally turned.

[USNBandit]

the initial stretch of construction between Merced and Bakersfield will cost $10 billion to $13.9 billion depending on how it's built.

I can just imagine the droves of people that will be waiting in line to go between those two cities. $10 billion to compete with a trip that would take 3 hours by car. The biggest issues with high speed rail in this country is going to be the ease of car travel and the expense of segregating high speed rail from everything around it. You are going to have to put fencing around it to keep the meth heads from stealing parts of the track. You will also need to build overpasses for every road and then put fencing on those to keep the yutes from throwing things off the overpasses onto the high speed trains.

[MileHi]

If they get it done they will have the same problem with ongoing operating costs.

[Pining_4_TX]

The busybodies in OK want to build high speed rail between Tulsa and OKC. Some people never get tired of thinking up ways to spend other people’s money.

[count-your-change]

That’s a nice round figure. No small thinking about mere billions here, billions there, just a straight trillion.

I like it!

[GonzoGOP]

At those prices even Left Coast Democrats will be bailing on this disaster. Especially now that it is obvious that there will be no giant Federal bailouts. Uncle Sugar is broke. And they can't pay for their 1:1 scale model train layout themselves. Willie Green must be so sad over in Zotland :)

[Attention Surplus Disorder]

No, no, no, no, you don’t understand, the more expensive it is, the better.

The only error here is to have these estimates come out BEFORE it is begun. THAT is an error. Because once it is begun, all manner of legal constraints that force CA to pay 2x the actual cost should the project be cancelled will be enacted by a corrupt legislature and so it will from then on be cheaper to complete it rather than cancel it no matter how expensive.

Anyone who thinks this project will recover 1/5th of its costs is to be commended for supporting CA’s economy by smoking very high quality marijuana, unless, that is, it was grown out of state.

[Armando Guerra]

Thank you Florida Governor Rick Scott. He was blasted for turning down federal funds for HSR because of his concerns of the state's liability for cost overruns. You made the right call and it was the courageous one. (Criticized by Charlie Crist of course.) I bet this news from California will get no coverage in Florida.

[afnamvet]

This is the Mother of All Boondoggles. See the Fresno to Merced piece

http://www.cahighspeedrail.ca.gov/assets/0/152/256/262/36ec5509-75d5-4161-a376-463b6701f7c6.pdf

[AU72]

Finally something to knock Boston’s “BIG DIG “ off the top of the list of boondoggles.

At least the tunnel is being used by thousands every day and where else can you get a free car wash as well?

[hattend]

MONORAIL!

Well, sir, there's nothing on earth
Like a genuine,
Bona fide,
Electrified,
Six-car Monorail!...
What'd I say?
Monorail!
What's it called?
Monorail!
That's right! Monorail!
I hear those things are awfully loud...
It glides as softly as a cloud.
Is there a chance the track could bend?
Not on your life, my Hindu friend.
What about us brain-dead slobs?
You'll all be given cushy jobs.
Were you sent here by the devil?
No, good sir, I'm on the level.
The ring came off my pudding can.
Take my pen knife, my good man.
I swear it's Springfield's only choice...
Throw up your hands and raise your voice!
Monorail!
What's it called?
Monorail!
Once again...
Monorail!
But Main Street's still all cracked and broken...
Sorry, Mom, the mob has spoken!
Monorail!
Monorail!
Monorail!
Monorail!
Mono... D'oh!

[N. Theknow]

and now the cost for the entire rail line is on pace to skyrocket to an eye-popping $60 billion to $80 billion or even more.

I'll take "Even More" for $150 Billion Alex.

And a great big "Thank you" to Governor Rick Scott for telling the feds to take their $2 billion and shove it cause we don't need a high speed rail line from Tampa to Orlando because it will cost more than that and taxpayers will have to subsidize it in perpetuity.

[DoughtyOne]

Voters approve $33 billion for the project...

Costs rise to between $60 to $80 billion, and the project continues without need for another approval.

It’s now projected it may cost as much as $100 billion total, and yet there is no mechanism to return this to the people for continued approval.

This is absolutely nuts. Let me guess, it’s more jobs for Democrats and will stimulate the economy, while burdening taxpayers still further at a time when we have record unemployment, and businesses fleeing the state in droves.

Welcome to what passes for Democrat (Leftist/Marxist) utopia.