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Bulk of high-speed rail costs could fall to state
Los Angeles Times ^ | September 8, 2011 | By Ralph Vartabedian

Posted on 09/08/2011 5:57:02 AM PDT by Oldeconomybuyer

As California prepares to commit tens of billions of dollars to an ambitious high-speed rail line from San Francisco to Southern California, Congress' political will to provide the bulk of the funding is disappearing, leaving the possibility that the state could end up stuck with a crushing financial burden.

State voters have agreed to issue more than $9 billion in bonds to build the system, but that's a fraction of the $43 billion projected tab for the initial phase. And those costs could swell to $65 billion or more, by some estimates.

Should federal funds dry up after the scheduled start of construction next year, the state could be left with no more than an unfulfilled dream and some tracks in the Central Valley.

(Excerpt) Read more at latimes.com ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections; US: California
KEYWORDS: boondoggle; calbondage; chsra; failure; highspeedrail; prop1a; rail; socialism


1 posted on 09/08/2011 5:57:07 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer
As California prepares to commit tens of billions of dollars to an ambitious high-speed rail line from San Francisco to Southern California...

High Speed Rail. A solution for which there is no problem.

2 posted on 09/08/2011 6:00:05 AM PDT by from occupied ga (your own government is your most dangerous enemy)
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To: Oldeconomybuyer

I guess Ole Rick Scott Govenor of Florida is looking pretty good about now.


3 posted on 09/08/2011 6:00:12 AM PDT by Joe Boucher ((FUBO) Obammy is little more than a quota boy with a teleprompter)
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To: Oldeconomybuyer

Californians would do well to make a visit to New Mexico to see how the Democrat Train between Albuquerque and Sante Fe is performing.


4 posted on 09/08/2011 6:08:48 AM PDT by Presbyterian Reporter
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To: Oldeconomybuyer

which is exactly WHY all those GOP governors canceled their projects


5 posted on 09/08/2011 6:21:17 AM PDT by Buckeye McFrog
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To: Buckeye McFrog

Wisconsin’s portion was happily given to CA. Good luck with that financial drain.


6 posted on 09/08/2011 6:37:05 AM PDT by UB355 (Slower traffic keep right)
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To: Oldeconomybuyer

All of high speed rail costs including the deficits/shortfalls/deficiencies unto infinity will be paid by taxpayers.


7 posted on 09/08/2011 6:37:52 AM PDT by arthurus (Read Hazlitt's "Economics In One Lesson.")
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To: from occupied ga

I guess Brown and the Dem legislature are not satisfied with running towards bankruptcy. They want to ramp up to hyperspeed.


8 posted on 09/08/2011 6:53:37 AM PDT by chuckee (Knowledge is knowing a tomato is a fruit. But, Mr Obama, wisdom is not putting it in the fruit salad)
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To: from occupied ga
High Speed Rail. A solution for which there is no problem.

If you want to create jobs, forget these silly high-speed rails! We should be building high-speed canals between every city. These things require even more capital expenditure and have MUCH higher operating labor costs. Talk about boatloads of new jobs!!!

9 posted on 09/08/2011 7:02:53 AM PDT by Onelifetogive (I tweet, too... @Onelifetogive)
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To: chuckee
"They want to ramp up to hyperspeed."

Why stop there ...


10 posted on 09/08/2011 7:14:44 AM PDT by BlueLancer (Secede?! Y'all better just be thankful we don't invade ...)
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To: chuckee
I guess Brown and the Dem legislature are not satisfied with running towards bankruptcy.

A government can never go bankrupt as long as these is someone somewhere in its juristiction who has some assets that can be seized (taxed) and used to pay for the government's insane schemes. The government can bankrupt every hard working citizen, but will never bankrupt itself as long as there are police (who are paid from the plunder) willing to rob the citizens of the fruits of their labors.

11 posted on 09/08/2011 7:56:58 AM PDT by from occupied ga (your own government is your most dangerous enemy)
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To: Presbyterian Reporter
Californians would do well to make a visit to New Mexico to see how the Democrat Train between Albuquerque and Sante Fe is performing.

Why? The best run high speed rail systems in the world - those in Japan and France - have been losing money for decades. Only a tiny number of individual high speed rail lines in the entire first world take in enough in fares to cover operating costs.

Like socialism in general, high speed rail has a long term, consistent track record of failure. If Californians hadn't learned that from decades of documented results in areas of the world where passenger rail actually makes some sense, why would the recent failure of a little commuter rail system like New Mexico's have any effect on their thinking?

Californians, as a whole, have drank the kool-aide. They're going to wake up to reality only in the manner that most socialists do - they're going to soon run out of other people's money.

12 posted on 09/08/2011 8:30:21 AM PDT by LIBERTARIAN JOE (Ron Paul 2012)
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To: Oldeconomybuyer

Can someone in Kalifornia tell me precisely why everyone in other states should help fund, through Federal funds, a high speed rail line that is for the benefit of Kalifornians only.

High speed rail is a luxury convenience for passengers and has nothing to do with interstate commerce.


13 posted on 09/08/2011 11:05:08 AM PDT by wildbill (You're just jealous because the Voices talk only to me.)
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