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  • The Bullet Train to Bankruptcy. Californians are questioning the High-Speed Rail Authority.

    03/09/2011 6:53:08 AM PST · by SeekAndFind · 164 replies · 1+ views
    National Review ^ | 03/09/2011 | Lou Dolinar
    Californians have a reputation for questioning authority. And increasingly, they appear to be questioning the High-Speed Rail Authority, which voters empowered in 2008 to issue $9.95 billion in bonds and build the nation’s largest such system. Opposition hasn’t reached critical mass — not yet. But it is broad, and it includes Republicans, some Democrats, community groups, local governments, fiscal conservatives, and neighborhood preservationists. Reports from respectable engineering and financial teams, including state agencies, paint a far gloomier picture than the happy-talk done deal that’s been portrayed in the national media. Lawsuits further complicate the picture. The more money California sponges...