BULLET TRAIN BACKERS WON’T TAKE NO FOR AN ANSWER
Promoters of the California bullet train are behaving like a salesman who gets his foot in the door and won’t take “no” for an answer.
It was 2008 when voters approved $10 billion in bonds to kick start a high speed rail (HSR) building program.But they were promised a system whose total cost would be $45 billion, that additional money would be secured from sources including private investment and that the system would meet environmental concerns.
An expert study sponsored by the Reason Foundation and the Howard Jarvis Taxpayers Foundation showed the actual cost for this extravagant plan would approach $100 billion or more. “There are no genuine financial projections that indicate there will be sufficient funds,” the authors wrote.… Read More