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The latest estimates put the cash-strapped state even further behind in bankrolling its biggest, and one of its most polarizing, public works plans ever, as California struggles to secure funds from shy investors and broke governments. Still, project officials are ramping up to spend billions of dollars to break ground on the rail line in the Central Valley next year and hope to find the rest of the money to pay for the system later.
Ahhhh...makes so much sense, doesn't it? Start work on a project that already has cost overruns........and find the money to pay for it later.
Sounds familiar, doesn't it?
Quote:
The California High-Speed Rail Authority's new cost estimates released Tuesday show the initial stretch of construction between Merced and Bakersfield will cost $10 billion to $13.9 billion depending on how it's built.
Original estimate? $6.8 billion.
Really, just outrageous...but we KNOW this is what happens to these kinds of projects, don't we?
California politicians/governance is beyond insane now...no wonder people are fleeing this once great state...but that is EXACTLY what liberal governance will do.
Christie didn't reject HSR funds only the Tunnel project , but he asked and has so far gotten 2 Billion $$ in Transit / Rail Expansions and upgrades.... He is working on a plan to fund Transit and Roads even further but that will be tough to do without a gas tax increase... So hes raising Tolls for the time being....
Christie didn't reject HSR funds only the Tunnel project , but he asked and has so far gotten 2 Billion $$ in Transit / Rail Expansions and upgrades.... He is working on a plan to fund Transit and Roads even further but that will be tough to do without a gas tax increase... So hes raising Tolls for the time being....
Same difference. Boondoggle (for the union) projects that cost the taxpayers a bunch of cash and inevitably, predictably have huge cost overruns.
It will hit 100. This was based on an initiative not the stimulus though.
Within the stimulus was funds for HSP and other such projects. If the governors took the funds, they were required to use it for HSP, instead of what they wanted to use it for, shoring up current infrastructure.
What will hit 100?
$100 Billion in cost overruns? I have NO doubt you are right.
You aren't on the hook for this though. Whatever the difference is from the stimulus that the voters passed here (in an initiative citing a figure of $33b) will be paid for by us floating more CA bonds.
Same difference. Boondoggle (for the union) projects that cost the taxpayers a bunch of cash and inevitably, predictably have huge cost overruns.
The Project itself wasn't a boon , but the cost turned into a Boon.....but by Canceling the project we got a perfect project now going forward by NJ - NY - Amtrak.
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