THE PEOPLE'S REPUBLIC OF CALIFORNIA - This site is dedicated to exposing the continuing Marxist Revolution in California and the all around massive stupidity of Socialists, Luddites, Communists, Fellow Travelers and of Liberalism in all of its ugly forms.

"It was a splendid population - for all the slow, sleepy, sluggish-brained sloths stayed at home - you never find that sort of people among pioneers - you cannot build pioneers out of that sort of material. It was that population that gave to California a name for getting up astounding enterprises and rushing them through with a magnificent dash and daring and a recklessness of cost or consequences, which she bears unto this day - and when she projects a new surprise the grave world smiles as usual and says, "Well, that is California all over."

- - - - Mark Twain (Roughing It)

Friday, April 21, 2017

CORRUPT - $1.25 billion in high-speed rail bonds sold

"Corruptus in Extremis"

  • Corrupt Democrats drive the state deeper in debt to build a train no one will ride. (You can drive faster to San Francisco than this train will run.)
  • Corrupt Republicans refused to rock the pig's trough of spending by putting an initiative on the ballot to kill the bullet train. With no issue to run on Republicans lost seats in 2016 giving Democrats a super majority in the legislature.

(AP) — California's state treasurer says ongoing legal challenges didn't harm the sale of nearly $1.25 billion in high-speed rail bonds.
Spokesman Marc Lifsher says all the bonds were claimed Thursday and treasury officials are happy with the results.
He says there was wide participation by different sectors of the bond-buying market. The sale produced yields that would be expected under current market conditions.
The sale was broken into three offerings, with yields as high as about 2.4 percent and maturity dates as distant as 2047.
A Sacramento County judge is to rule next week on whether the California High Speed Rail Authority can now spend the bond money.
The lawsuit challenges legislation that opponents say goes beyond what California voters allowed when they approved nearly $10 billion in bonds in 2008.
Read More . . . .

Amtrak rail lines in California.
Nothing to Steal
An intelligent person would simply connect the Amtrak line that dead ends in San Luis Obispo with the Amtrak line at San Jose.  For a tiny fraction of the cost of the insane "high speed" rail fraud most of the state from Mexico to Sacramento would be connected by rail.
Instead countless billions will be pissed away as payback to the businesses and unions that fund the campaigns of the Sacramento hacks.  All the special interests have their snouts in the trough of corruption. 

Amtrak Pacific Surfliner at Del Mar, CA
Simply connect San Jose and San Luis Obispo and you have a statewide rail system.  But easy and cheap are words the liar politicians have never heard.

1 comment:

Anonymous said...

Spending Money from tax payers on something people don`t need , cause they have something pretty usefull for the same purpose .
It`s a kind of the Democrats thing .
In Europe we have the same schemes . It`called " Keynesianism on borrowed debt " . Never the State will be ridden of that debt , cause they sale it , to foreign investors , and then they may sell everything worth selling on them.
It`s call "imperialism by need of buying votes ".
My country , got a government that is doing the same path . The local IRS is plunder every fair wealth worth income , to " downsize" middle class , and put citizens on large State dependence ... and so in the mood to sell their vote , for Money , or some kind of divine honcho nanny state help .
We have that on major infraestrutures , as "pay for use roads" that we cannot pay , projects airports that we really don`t need , and a flawed and worthless high speed train that we don`t really need too , now suspended .