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Feds Question Viability of California's Bullet Train

With California’s high-speed rail project still expecting to receive tens of billions of dollars in federal funding, a new report from Washington, D.C., highlighted concerns about the plan’s financial assumptions.

The U.S. Government Accountability Office issued a detailed report on the $68 billion undertaking, which is slated to be the largest public works project in state history. While the report indicated that the California High-Speed Rail Authority, which is overseeing the project, has exhibited some best practices in developing its long-term strategy for the plan, questions remain -- including volatility in ridership projections, lingering environmental issues and, most pressing, a lack of funding.

So far, roughly $11.5 billion in state and federal sources have been identified for the project, leaving a $57 billion shortfall. Of the remaining funds needed, the authority has projected that $37 billion will come from Washington, yet lawmakers have been divided on the federal spending practices. The GAO report noted several roadblocks.

Source: The Examiner. Read full article. (link)

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  • Sevo||

    "The U.S. Government Accountability Office issued a detailed report on the $68 billion undertaking,"
    Pretty sure even the professional liars have inflated this lie to something close it $100B.

    "While the report indicated that the California High-Speed Rail Authority, which is overseeing the project, has exhibited some best practices in developing its long-term strategy for the plan,"
    Bullshit. Unless 'best practices' includes sitting in a restaurant with Willy Brown and throwing verbal darts at the budget. And then getting the staff to 'paper' that hogwash.

    "questions remain -- including volatility in ridership projections, lingering environmental issues and, most pressing, a lack of funding."
    I'll say "questions remain". Like every claim yet made for this boondoggle.
    The problem isn't the questions, the problem is no "answers" yet exist.

  • ||

    You're too kind to this. This is nothing but a brand experiment in graft and unionize job farm. Who care if no one will ever be move one inch. Just look at all of the GREEN job it'll create.

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