Well, back in 2003, Richardson was looking to use the train as an example to enhance his "green" and environmentalist resume in his run for President in 2008. And the Democratic-controlled legislature bought the scam and the administration did not apply for federal funds (something about having to pass a cost/benefit test) and instead raided the NM highway fund to the tune of a half-billion dollars (not all at once of course, but in increasing increments from $90.2 million proposal in 2003 to $135 million for the first phase to just under $1/2 billion to complete the system in December 2008). Now the cost including interest payments will balloon the total to $843 million that comes due in 15 years. In the meantime farebox recovery is only 14% with taxpayers paying the tab for the minuscule ridership.
What's to be done? Suggestions include everything from shutting it down and ripping up the rails to increasing fares to increasing taxes on citizens whose counties it traverses. Fares are still ridiculously low, especially compared to similar services in other areas of the country. Ridership is unlikely to increase, especially as at least two more stations are coming on line that will further slow travel times to Santa Fe decreasing its desirability as a mode of travel.
This was all foreseen early on and reported in stories and even editorial cartoons in the ABQ Journal. Here on Free Republic do a keyword search on Richardson's Railroad to see the history. One of the best summary articles with the editorial cartoons can be found at this link from November 2007:
The Little Engine That Could Devour Money (NM-Richardson's Railroad)
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