Sunday, January 11, 2015

California High Speed Rail : An Economic Windfall for the Connected

Of course a high speed train is insane. It will cost $billions in new taxes for residents and ultimately taxpayers across the country as California is broke right now. You know the feds won't allow such a large state to go bankrupt.  But Why would a state that is already more then $100 billion in debt do this? Ponder no longer why, it's being built in California where the progressive socialist liberal left democrats have driven this state so far into debt that it will never be able to pay it off. Wisconsin's governor Scott Walker killed the 'high speed train' as he knew it was a loser.

But it's political pay-off time in sunny California. Boxer, Feinstein, Pelosi, Brown and hundreds of others with their collective hands in the public till.

It's clear to anyone that cares to look at history in California; they don't care. It's just more sun and fun. The mottos for this state is 'live fast, love hare and die young' and 'take the money and run'. let other pay the bills.

But there's more, they have proclaimed by law that by 2030 a high percentage of their electrical power has to come from wind, solar and biofuels. The insane are in charge of this once great state.

California will be lucky in the near future to just be able to pay the interest on their debt let alone pay down anything on the principle. Mr Obama and the progressive socialist liberal democrats are doing the same thing to the entire country.

But wait again, who is stand up to stop Mr Obama and the democrats before it's too late to save out country? Certainly not the democrats and now it looks like not the Republicans as well, then who?

Does California's High-Speed Rail Project Make Sense?
Source: Katrina Trinko, "California Just Started Another Insane Government Project," Daily Signal, January 6, 2015.

January 9, 2015

California is hardly considered a model of fiscal restraint, so its latest attempt to fund a high-speed rail project may come as no surprise. Katrina Trinko of the Daily Signal reports that the $68 billion project would run a train between San Francisco and Los Angeles.

What's wrong with it? According to Trinko, the $68 billion is solely for building costs, not for operating the line. And so far, the government only has $12.6 billion for the project. While it plans for one-third of the funding to come from the private sector, no one has signed up to invest.

Beyond the financial questions, Trinko says likely ridership is questionable. This is something that NCPA Senior Fellow Baruch Feigenbaum has previously written about on the NCPA Energy and Environment Blog. According to Feigenbaum, the state's estimates of how many Californians will ride the train are too high (between 65 percent and 77 percent too high). Moreover, he says the rail travel will be inconvenient for riders, with most of the stations "still 20 or 30 miles from their final destination in a Southern California or Central Valley city with limited transit options."

According to rail supporters, the train could get a passenger from San Francisco to Los Angeles in two hours and 40 minutes -- shorter than the six-hour driving time, while longer than the one hour, 15-minute flight. However, Trinko cites a 2013 Reason Foundation study, which estimated the trip will actually take four to five hours, with the longer travel time lowering ridership and raising costs. She calls the project a "mistake" that "will likely cost taxpayers dearly."

Why has high-speed rail worked elsewhere? Different lifestyles. Feigenbaum uses Japan as an example, which built a line between Tokyo and Osaka. Just one-quarter of Japanese residents even owned a car when the line was built. That's hardly the case in California, where over 85 percent of residents own vehicles.
 

No comments: