Hurry Up And Spend? No, Slow Down And Think

IBD Editorials ^ | May 15, 2012 | Editor

[Kaslin]

High-Speed Rail: It says something that even struggling California may be willing to lose a $3.3 billion federal bullet-train grant. Maybe it senses some risk. Now how can that be?

The Golden State is not known for its fiscal sobriety, but at least some of its top lawmakers are thinking twice about accepting the Obama administration's invitation to waste money.

Last week, Transportation Secretary Ray LaHood said a promised $3.3 billion federal grant to start the state's high-speed rail system is at risk unless the state budgets $2.7 billion from bond funds for it this June.

State Senate leaders, bucking Gov. Jerry Brown as well as LaHood, want to put off a decision until August. LaHood said that's "too late for us."

On the contrary, even August is too soon for the state to jump into rail construction.

Never would be better. But the stalling is a good sign, as is the apparent willingness to give up the federal grant rather than be rushed into a rash decision.

It seems the state's legislative leaders, if not its governor, see trouble ahead. The federal money may be enough to start the work, but it doesn't ensure a project's success or solvency. On the contrary, it can be a ticket to fiscal disaster.

[freedumb2003]

"I'll gladly pay you Tuesday for a hamburger today"

[super7man]

I can fly from three convenient bay area airports to three convenient So. Cal airports, plus San Diego in an hour for $58 with proper planning. Why would I waste my time on high priced rail? This is stupid.

[karnage]

Stop making sense, you fool! This is California! We do things that are “awesome” so others will, like, go: “Oh wow!” “Dude: a train?? Awesome!” “There’s like, no global carbon warning footprint, dude! Totally green!”