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  • Surprise! California high-speed rail cost explodes ($6.8 billion more than originally estimated)

    08/14/2011 5:08:26 PM PDT · by SeekAndFind · 50 replies
    Hotair ^ | 08/14/2011 | ED MORRISSEY
    Do I hate to say, “I told you so“? Er … not really: Building tracks for the first section of California’s proposed high-speed rail line will cost $2.9 billion to $6.8 billion more than originally estimated, raising questions about the affordability of the nation’s most ambitious rail project at a time when its planning and finances are under fire.A 2009 business plan developed for the California High-Speed Authority, the entity overseeing the project, estimated costs at about $7.1 billion for the equivalent stretch of tracks. Officials say those estimates were made before detailed engineering work and feedback from communities along...