I was only off by couple billion years ago when this albatross arose from the sea of debt looking for a new perch.
What a High-Speed Rail Job to HeLL.
This is going to make good the losses of all the Democrat politicians who had their campaign money ripped off by that mutant Kinde Durkee. Now all they have to do is go to the nearest BofA and get a loan against the kickbacks they’ll get from the unions and suppliers for this project.
Ain’t life grand?
Does anybody really believe this?
Anybody? Save Willie Green, of course...
” profitable even at the lowest ridership estimates and would not require public operating subsidies,....”
You have to read that closely. No “operating subsidies” required, (so they say). However, there’s no mention of ever actually paying off the capital grant. If you gave me a free railway, I might be able to operate it “profitably”. Just don’t expect to get your $100 billion back ... ever.
Democrats flunk basic accounting. This project generates payola especially for the labor cartels. For the taxpayer, this project is just another nail in the budget coffin. It is only profitable if the cost to build and operate the rail lines are not included.
The Federal Congress should pass a bill congratulating Kalifornia for their planning ability and guaranteeing Kali that the Fed will not take any profits from the hi speed train while also affirming that the Fed will not make any contributions to assist should the planning numbers prove to be full of Obama.
And there are actually people stupid enough to believe this!
So, how are they going to get someone to build it for all the money they don’t have? Unlike the Federal Government, they can’t just print money. The chances of this actually happening is somewhere between zilch and a Bond measure nobody would vote for in the next election.
This is political gas passing and democrap wishthink at best.
Note for Democraps, you have raided the treasury, there are not going to be any more free gravy trains.
20 years to build!?!?!?!? They’re taking their sweet time
Its not a railroad...its a perpetual union employment machine...requiring DemoCrat politicians to operate....
.
That cost is nothing compared to what the union workers that run it will cost in legacy expenses.
If they say 98, it will come in at 198
No mention of the eminent domain abuse taking homes, farms and businesses for this totally unnecessary boondoggle.
Does that cost include buying all the land that Reid and Pelosi own all along the way?
“SACRAMENTO, Calif. (AP) — The new business plan for California’s high-speed rail system shows the nation’s most ambitious state rail project could cost nearly $100 billion in inflation-adjusted funding over a 20-year construction period but also would be profitable even at the lowest ridership estimates and would not require public operating subsidies, according to a draft copy of the plan shared late Monday with The Associated Press.”
Bulls**t, bulls**t, and bulls**t.
No matter what the estimate, tripling it is entirely safe.
In the entire world, there are perhaps 20 passenger train lines that are self-supporting revenue wise.
This has been true for 50 years.
The only way this will ever make sense is is gas goes to $50. And that may not be out or range for their plans for us.
Yeah....and includes a detour over a bridge from Brooklyn that was acquired at low cost.
I love how the AP thinks: Profitable... counting only operating costs. The $100 billion... that doesn’t count.
Now, lets put these calculations into the whizzinator.
Wizzzzzz-
$100 billion. If the ticket cost included, say, $10 dollars as amortization of the original investment, say for one hundred years, then to break even on the investment would need 275,000 tickets per day,each day, not including interest, over the one hundred years.
Now, if a train car carried 100 passengers in each car, and each train was ten cars long, you would need 275 trains per day, or from 6am to midnight 15 trains per hour; one every four minutes!
Yep, I’m sure that that this will be a real winner!