Posts Tagged ‘High Speed Rail’

Proof positive that liberalism is a mental disorder.

Buyers’ remorse my ass. The morons in Sacramento were told this shit was a train to nowhere and would cost the state billions that it didn’t have. They even had an independent audit on this boondoggle that showed that it would cost more money than projected, yet the idiots persisted on going ahead with it anyway.

The inmates are running the asylum here.

Buyers’ remorse for California’s ‘bullet train to nowhere’

California voters are experiencing buyers’ remorse over a $68.4 billion (£44.4 billion) high speed rail project which critics say risks becoming a “bullet train to nowhere.”

Ambitious plans for a fast track linking Los Angeles and San Francisco at speeds of up to 220mph in just over two-and-a-half hours were slimly approved by 53 per cent in a statewide ballot in 2008. That allowed the state to raise $10 billion from bonds and secured an injection of $3.5 billion in stimulus money from the Obama administration. There is currently no direct train route between the two.

Construction is expected to begin later this year in the middle of California’s Central Valley near Merced, a town of 80,000 people known for having one of the highest home foreclosure rates in America.

The plan calls for around 300 miles of track to be laid south from there over the next 10 years to reach the northern outskirts of Los Angeles. A northern link from the Central Valley to San Francisco would not be completed until 2028.

The project is still $54.9 billion short of what is needed, raising fears that the state will be unable to find the funds to finish later sections, and could be left with a futuristic rail line linking minor cities and farming communities.

Amid disillusion over the cost and handling of the project, voters have now turned against what was supposed to become a symbol of state pride.

via Buyers’ remorse for California’s ‘bullet train to nowhere’ – Telegraph.

California’s high-speed rail should be dead on arrival. But the idiots running this state, are too stupid to figure out that it’s not worth the money. It’s a black hole that will need to be subsidized to keep it running. Mark my words

Now mark Chris Reed’s words…

Solyndra Times Seven

By  Chris Reed

Why California’s high-speed rail project is an even greater waste of federal tax dollars.

The national media have devoted plenty of skeptical attention to California’s bullet-train boondoggle—from the ballooning cost of the California High-Speed Rail Authority project to its shoddy management to the baffling decision to build the first segment in the lightly populated Central Valley. But the press has yet to focus on a crucial fact: the bullet train isn’t just some quirky Left Coast fiasco; it’s also a grotesque waste of federal money. The project serves as a powerful reminder of the Obama administration’s mishandling of the $787 billion stimulus that Congress passed in February 2009 with solemn assurances of prudence and accountability. The bullet-train project, in fact, can be thought of as “Solyndra times seven”—that’s how far its costs outstrip those of the much-touted Bay Area solar panel manufacturer that burned through $528 million in federal loans before declaring bankruptcy and folding last September.

In California, the federal government is committed to spending $3.5 billion—with most of those dollars coming from the 2009 stimulus—for a project whose problems are glaring. State officials are trying to remake the bullet train on the fly, promising at a legislative hearing in Silicon Valley to implement changes that would bring down the cost and speed up construction. But none of those changes alters the fact that the bullet-train project appears clearly to violate federal regulations governing stimulus spending on transportation. The rules, published in the Federal Register on June 23, 2009, require that applications for stimulus funds to build high-speed rail projects would be approved only after “rigorous analysis,” factoring in a careful examination of the proposed project’s “financial plan (capital and operating),” “reasonableness of financial estimates,” and “quality of planning process.” Grant recipients would make regular progress reports, corroborated by Federal Railroad Administration audits. Even the most cursory analysis shows that the California bullet train falls far short of compliance with the rules.

via Solyndra Times Seven by Chris Reed – City Journal.

This high-speed rail boondoggle is all about politics and wasting money that we don’t have. If this crap isn’t stopped in its tracks (pun) then we are truly boned, and so are the grandchildren of today’s children.

Thomas Sowell has a good article on this:

Getting Nowhere, Very Fast

California has a huge state debt and Washington has a huge national debt. But that does not discourage either Governor Jerry Brown or President Barack Obama from wanting to launch a very costly high-speed rail system.

Most of us might be a little skittish about spending money if we were teetering on the brink of bankruptcy. But the beauty of politics is that it is all other people’s money, including among those other people generations yet unborn.

The high-speed rail system proposed for California has been envisioned as a model for similar systems elsewhere in the United States. A recent story in the San Francisco Chronicle used the high-speed rail system in Spain as an analogy for California.

Spain is about the same size as California, and has a similar population density — and population density is the key to the economic viability of mass transportation, from subways to high-speed rail.

via Getting Nowhere, Very Fast – Page 1 – Thomas Sowell – Townhall Conservative.

I sure as hell hope so.

More on that high speed rail to hell in a hand basket. I hope that this gets killed. This state can ill afford another debt like this.

The lying assholes behind this have been found out and the public isn’t going to put up with it.

“Nobody spends somebody else’s money as carefully as he spends his own. Nobody uses somebody else’s resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property.” – Milton Friedman

Is California High-Speed Rail Dead?

Posted by Randal O’Toole

The CEO and board chair of the California High Speed Rail Authority have resigned in disgrace over erroneous cost projections. A peer-review commission created by the California legislature says the authority’s high-speed rail plan is “not financially feasible.” Surveys show a majority of Democrats, Independents, and Republicans in the state all oppose construction.

Yet the authority’s scheme to build a new rail line capable of moving trains from Los Angeles to San Francisco in two hours and 40 minutes won’t die unless the state legislature kills it. Officially, the authority plans to begin construction by September 2012, despite the fact that it has less than 10 percent of the money it needs to complete the project.

The tide definitely turned against the plan when the authority published a new business plan admitting that estimated inflation-adjusted construction costs had more than doubled from $43 billion to $98.5 billion. Moreover, under the new plan the promised 220-mph trains would not roll until 2033, more than a decade later than voters were promised in 2008.

The authority’s credibility was further reduced when it admitted that the million jobs it promised were really job-years, and that no more than 60,000 jobs would be created at any given time (and even that was probably an exaggeration). These revelations cost the project the editorial support of a number of major papers that had previously endorsed the project.

via Is California High-Speed Rail Dead? | Cato @ Liberty.