Here's the latest in yet another saga of California failure.
The Daily Caller News Foundation reports on MSN (Microsoft News) that the California Legislative Analyst's Office has testified to the Legislature that the California High Speed Rail project needs another $7 billion in public funding by summer of 2026. Unless the funding is obtained, construction on the project could stop in 15 months.
In 2008, California voters were told that the San Francisco to Los Angeles high speed rail line would be in operation by 2020, providing travel in less than three hours between the two cities, for a cost of $40 billion.
Our forthcoming study on this boondoggle by Wendell Cox, shows that the costs of the line have risen to as much as $128 billion and the only construction activity has been on a Merced to Bakersfield segment, with both ends being far from the promised terminals in San Francisco and Los Angeles.
Meanwhile, the Trump Administration is wisely considering the cancellation of $4 billion in federal funding that has not been spent. Don’t throw good money after bad.
