A new report is out on the California high-speed rail proposal which appears to shock many by doubling the estimated price tag of this debacle. Please. When was the last time the government built anything with just a 100% overrun? If this thing gets built, I will lay odds that it will come in at least three times over budget.
This “business plan”, as the authors wish it to be called, was written by Brown appointees. I actually didn’t know how Brown stood on the issue of high-speed rail until I read this little nugget: “Even under the most conservative ridership projections, the report said the rail system would have a net operating profit.”
Absolute hogwash. How are Bart, Amtrak, and Muni doing? Bart was supposed to make a profit because there would be very little payroll costs – the darn thing can drive itself. But enter the unions and now a pointless Bart conductor pulls in $100k. If someone could tell me of a government-run transit authority that is actually in the black, I would be very grateful, and very shocked.