We quote from an article in today’s L.A. Times:
“The California High Speed Rail Authority wants to use $2.7 billion of the bond
money and $3.3 billion in federal grants to build a 130-mile section of track in
the Central Valley. The entire first phase of the system between San Francisco
and Anaheim will cost an estimated $98.5 billion. The cost of the full system,
extending to San Diego and Sacramento, has not been calculated.“With the state short about $86 billion to finish the initial phase, . . .”
Truth to tell, we stopped reading at this point. This thing is just plain loony tunes because California is broke. To read the L.A. Times article in its entirety (Ralph Vartabedian and Dan Weikel, Borowing Cost for Bullet Train Revised Upward, L.A. Times, March 7, 2012), click here.
Oh yes. We learn from this article that an effort has begun to put the “Bullet Train” project back on the ballot, to give Californians the opportunity to cancel it, being as current incomplete cost estimates are running over ten times the $9 billion sold to the voters in the 2008 election as the cost of this project.