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California’s High-Speed Train to Bankruptcy

Written by Gary North on July 9, 2012

California’s Democrats defeated Republicans on a straight party vote. They voted to begin phase one of a $68 billion high-speed train.

This assumes that estimated costs do not rise. (Unlikely.) It also assumes that the state will not declare bankruptcy before the project is completed. (Also unlikely.)

Governor Jerry “”Medfly” Brown pushed hard for this bill. It will be a large bill indeed.

There will be lots of funding from taxpayers outside the state. There will be $3.2 billion in federal funding.

The current budget for California is $16 billion in deficit.

A Republican state senator called this a fiscal train wreck. That says it all.

Continue Reading on www.bbc.co.uk

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16 thoughts on “California’s High-Speed Train to Bankruptcy

  1. The californa residents nust really be stupid. The next they will be asking for is a federal government bail-out.

  2. There is $3.2 billion federal fundind. Federal funding always sounds nice until you realize that is your money that you will be giving these dunb As**s,

  3. junkbin says:

    Right, California residents are really dumb. California has almost the lowest rated school system in the country with a heavily left slanted course material.
    When you mix in all the Californians getting lots of freebies, you end up with liberals running the show.
    First stage is Merced to Bakersfield. The main traffic on this route is farm products. This project will do nothing except drain money, go now where, and never make a profit

  4. Bill McCroskey says:

    Our Florida Governor Rick Scott was WAY to smart to fall for this same type project. The left and liberal media in this state panned him. Rick Scott will be proven right on this, like Moonbeam Brown will be proven wrong. Moonbeam's excuse (like Obama's) will be ….'it's all Bush's fault;

  5. ccfonten says:

    Total insanity in Californication.

  6. Texas Chris says:

    Not no but hell no.

  7. Texas Chris says:

    First the cities, then the counties will start to file bankruptcy. Then the state. The whole thing is going to come crumbling. It's only a matter of time.

  8. Aww…Come on…can't you spare a few Federal $???…they aren't your tax $ as they are likely borrowed from China or
    freshly printed. Well, I guess you do get the debt but nevermind about that…that is your kid's problem.

  9. California, the state that has earthquakes, land/mud slides, fires, Hollywood, more than their share of gays/lesbians, Moonbeam Brown AND NANCY PELOSI…….they couldn't pay me to live there; Oh, I forgot they're broke too so they couldn't pay me anyway. Maybe they could sell their state to the Mexican Cartel and then we could build a HUGE fence between them and the rest of the U.S.

  10. Colonialgirl says:

    There is NOT a single High Speed train in the world that has paid back its construction costs or made a profit. The one in Clifornia will be the poster child for FAILURE on a grand scale that costs taxpayers ALL of their pay checks.

  11. LIBSRLINTLICKERS says:

    JERRY BROWN IS AN INEPT BRAINDEAD LIBERAL IDIOT and the SANE PEOPLE OF CALIFORNIA ARE NOT GOING TO TAKE IT ANYMORE!! FIRE BROWN AND EVERY DEMO-SCUM IDIOT IN SACRAMENTO!! THEY ARE SENDING OUR BEAUTIFUL STATE STRAIGHT TO HELL IN A MEXICAN HANDBASKET!! RECALL JERRY BROWN! HELP SAVE CALIFORNIA!!

  12. I wasnt asked if this is ok. I didnt get to vote for it. I mat be surrounded by idiots but Im not Stupid. By the way I never voted for Jerry Browneye either. In fact Iv'e never voted for any DUMBOcrat. We people with brains in this sad state are the victims here.

  13. Why arent the hippie tree hugging wastecases howling about this? Must be too stoned on that medical pot.

  14. AMEN BRO!! Where do I sign?

  15. Bill in NC says:

    Nobody in the U.S. voluntarily rides passenger rail.

    Unless they're tourists or too poor to fly.

    Even light rail systems (FAR cheaper to build) that were designed for commuters are only used by tourists and on game day.

    Urban land is WAY too expensive to buy, so at least initially you'll ride the high-speed rail from Fresno to Bakersfield, then transfer to a conventional, 25 mph train or bus for the rest of your journey to LA or SF.

  16. Mexifornia needs high-speed rail so the illegal aliens and other leeches can get to the welfare office and the polling place quicker. Californication is a BIG state.