They only care about the 2-3 years of funding in the near term.
Remember people: Public Employee Unions are your MORTAL ENEMY. Ever member, your mortal enemy.
Never forget this fact.
It's more than just jobs. CALPERS owns a major stake in Catellus Development, along with Richard Blum. You can bet your bottom dollar they've got a bundle tied up in the "pump and dump" stock schemes associated with this plan, not to mention planned investments in the Agenda 21 "Sustained Development" "communities" planned along the route.