Liar - Liar - Bullet train losses will run up to $9 billion annually
- Voters were lied to about the costs and ridership.
- The rail authority claims it can operate system at a cost of about 10 cents per passenger mile, less than one-fourth of the 40 cents to 50 cents it costs high speed rail operators in other countries.
- Insane Democrats want to bankrupt the state with endless spending.
The morons and liars at the state rail authority have grossly underestimated future operating costs of California's proposed bullet train, meaning taxpayers potentially will have to provide billions of dollars annually once the system is running, according to an analysis released Monday by a group of outside financial experts.
The rail authority claims it can operate the 510-mile system at a cost of about 10 cents per passenger mile, less than one-fourth of the 40 cents to 50 cents it costs high speed rail operators in other countries, the analysis found. If California's bullet train operating costs rise to the international average, losses will range from $2 billion to $9 billion annually, according to the report.
"We are confounded by where the authority is getting its operating costs," Grindley said.
The group, which also includes Silicon Valley executives William Warren and Alan Bushell, has written a series of financial assessments of the bullet train plan that sharply question its economics. The four experts are affiliated with the Community Coalition on High Speed Rail, located in the Bay Area.
(Los Angeles Times)
|California already has existing passenger rail service all over the state. But the Big Government spenders will never be happy until California is bankrupt.|