California bullet train project on track to blow through billions of more dollars
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By Stephen Frank, California Political News and Views
The biggest boondoggle in America history, the California train to nowhere, is continuing its massive effort to bankrupt the State of California. What started as a $38 billion project, is now going to cost $100 billion, per the NY Times. In reality, if completed it will cost $200 billion and there will be NO money to operate the scam. While unions or crony capitalists make money, and hack politicians get donations, the public will watch the State economic system crumbled as Sacramento attempts to create 20th century transportation in the 21st century.
“Not only is the massive high-speed rail project 11 years behind schedule and billions in the red, managers are now saying they will need to ramp up spending to hit a 2033 deadline.
California’s money pit cost taxpayers $3.1 million a day last year. But that’s small potatoes compared to what they’ll have to shell out over the next four if they want to meet their deadline and budget, estimated most recently at $100 billion in a report last month by the New York Times.
The California High Speed Rail Authority will have to increase its daily spending by nine times.
“It’s a very aggressive spending rate,” Russell Fong, the authority’s chief financial officer told The Los Angeles Times, admitting that future goals may be difficult to achieve.”
When will the California families and businesses, financing this scandal, decide to rebel and revolt at the ballot box, trying to get control of State spending before being forced to leave the State to save their own economic situation.
Related Article: California bullet train project on track to blow through billions of more dollars
Stephen Frank: Is the the publisher and editor of the California Political News and Views. Mr. Frank speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows and is a full time political consultant. http://capoliticalnews.com/
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