Borrowing costs for bullet train revised upward

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• So it's now 750 million intrest for phase 1 of the project, which is entitled "Lets pay off our Union Buddies, and crony Pals". Nothing gets built you understand it's all planning and overhead.

  • And buying up the now overpriced land they need for the right of way.

• I saw the Governor of Puerto Rico on TV talking about the territory, and he seemed like a cool guy. He is a Republican from what I remember (or whatever their equivalent is) and talked fondly about his people and their values.

  So I have an idea, let make Puerto Rico a State, and get rid of California. This way we don't have to change the flag, and hopefully the rest of the United States will not be brought down by California's completely irresponsible, irrational, spending and debt.

  Not only that, but the Democrats would lose a ton of Electoral College votes.

• I personally think Jerry Brown is in la-la land and wants this to be his legacy and will bankrupt the state to get it because he's desperate to be remembered as anything other than 'Governor Moonbeam.' If he manages to push this through he'll be remembered as 'Governor Bullet Train Bozo' instead.

  • And he's still shootin' blanks.

• "What about the economic benefits of the investment?" asked rail authority spokesman Lance Simmens. "Investments mean you have to spend some money, but you think you can get more back."

  Here's the problem: when I invest my own money, I am CAREFUL because Rule 1 is Don't Lose Money. If I were to "invest" someone else's money, someone who wouldn't be able to put me in jail or sue me for squandering it, I might very well be tempted to spend it all on lottery tickets and hope for a winner. Maybe California should compromise: go ahead and borrow gazillions to build the Tunerville Trolley but if the "economic benefits" don't materialize, all the people pushing it will be sued and/or sent up the river to San Quentin. These clowns are not risking their OWN money but they should be required to put SOMETHING at risk, doncha think?

  • You've hit on the problem of government at all levels.

    • Other people's money. I've heard people, much more intelligent than I, say that at some point you run out of it.

• Within a few months the State of California will need buy new calculators( with more zeroes) to figure out the eventual cost of the Train to Nowhere.

• When I hear about this high speed rail( wich we don't need) two words come to mind. Corruption and graft. Jerry, read up on your history. Especially the history of American railroads. You just might learn what happens when you build a road that nobody will use at the expense of bondholders, shareholders, and eventually taxpayers.

  • Actually, there are a lot differences between the original American railroads and the present day boondoggles. The originals actually had riders, people actually wanted to go where the rails were heading. And the workers who built the railroads weren't exactly a powerful lobbying force.

    • Yes, the original transcontinental system had many riders and freight customers. Many of the original roads went into receivership when the only competition was a few other transcontinentals and the steamship companies. When one factors in all of the competition in travel from SF to LA, this high speed line just does not make sense. I'd bet five dollars this road goes into recievership before it is even finished.

      • What ever happened to Obama's Intercontinental railroad?
        Did it go into recievership, or is it still running?
        ;-)

• $700 million a year in interst costs for phase I. How many phases are we talking about?

  They want to know what the economic benefit is. Lets just say the economic benefits are the same as AMTRAC on steroids.

  • And of course, Phase 1 goes from nowhere to nowhere, and will be ridden by nobody.

• Moonbeam's last erection.

• Only $98 billion for someone from San Francisco to go to Disneyland? I don't see anyone going the opposite way, but there might be a few.

• I'm guessing most Californians are still in favor of building the train system. After all, it's the same bunch who voted billions for stem cell research while the Governator was in office. BTW, how's the working out for them?

  I think most Californians believe they are so wonderful that there's no way the feds will ever let the state go bankrupt.

  • Well Jim, after living out here since '87, I think the only idiots that still want this abortion are the city dwellers. Everyone I've talked to think this is a boondoggle that will be shoved down our throats. It's because the Dems have controlled this state for far too long, and I don't anticipate anything changing in the future. They tried a similar proposal in SE Alaska where I grew up. Boeing tested their hydrofoil around the islands as an alternate to air travel and the Alaska Marine Highway system (ferry boats). I thought pricing was a little high to go to diff. islands. The folks pretty much said 'no thanks' and the project was scrapped. Unlike Calif. the folks back home have common sense and don't much care for Libturd politicians. Possibly why the state is $16 billion in the black.

    • Hi Guy - there have to be a few folks with common sense left in California but they are so outnumbered.

  • Yea the ones in favor of it are the ones who don't pay any taxes and think they are gonna get free tickets on the Jerry Brown Clown train. Brown said other scoffed at the interstate highway system..hmmm that benefited everyone...This is going to be a piece of shit from the get-go and thanks to our Shroom eating Governor we are sooooooooooooooooooo screwed....