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California's $64 Billion Train to Nowhere delayed again


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5 hours ago, mrwicked said:

i would totally use SF to OC speed train if it was priced/done right.

agreed on OC to Vegas though, that would be a winner.

I hope you have about 20 years to wait, because that's how long it will take to complete this thing, and you can expect it to be at least $100-200 billion over original cost. Best thing for all concerned is to kill it now. The voters did not approve this massive expansion in cost, etc. The bonds were for far less that what this will actually run.

California is going broke. State pensions are underfunded about a half-trillion dollars, to take just one item. This train is the last thing we need. 

 

Edited by fan_since79
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Bad news this morning for the bullet train. A major money source expected to provide $150 million brought in only $2.5 million.

Cap and trade auction. Buyers bought only 2 percent of the carbon credits. I don't believe they can get this money from any other source, including the state budget, but I'm still looking into that. The money trail is convoluted.

http://mynewsla.com/government/2016/05/26/cas-cap-and-trade-auction-falls-short-chops-state-revenue-and-bullet-train-financing/?google_editors_picks=true

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1 hour ago, fan_since79 said:

Bad news this morning for the bullet train. A major money source expected to provide $150 million brought in only $2.5 million.

Cap and trade auction. Buyers bought only 2 percent of the carbon credits. I don't believe they can get this money from any other source, including the state budget, but I'm still looking into that. The money trail is convoluted.

http://mynewsla.com/government/2016/05/26/cas-cap-and-trade-auction-falls-short-chops-state-revenue-and-bullet-train-financing/?google_editors_picks=true

What prompted the lack of buyers?  How about California is not hospitable to industries, since they can go to other states and not worry about crap like cap and trade?

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2 hours ago, gotbeer said:

What prompted the lack of buyers?  How about California is not hospitable to industries, since they can go to other states and not worry about crap like cap and trade?

California is hostile to business and industry, yet Sacramento continues to add more taxes and regulations to the already stifling mix, while expecting companies to thrive.

 

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20 years sounds about right for all of the lawsuits this idiot train will generate. you know how many people's homes are in the proposed pathway? with real estate prices going up, buying those homes - if people are even willing to sell them - will be astronomical (i imagine the state will claim eminent domain for many of them). 

this thing is a disaster financially. are there really people clamoring for this thing?

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On 5/26/2016 at 3:42 PM, Tank said:

20 years sounds about right for all of the lawsuits this idiot train will generate. you know how many people's homes are in the proposed pathway? with real estate prices going up, buying those homes - if people are even willing to sell them - will be astronomical (i imagine the state will claim eminent domain for many of them). 

this thing is a disaster financially. are there really people clamoring for this thing?

The voters approved it. A lot of commercials with idyllic views of a beautiful train flying through the valley at 200 mph. Voters forgot to read the fine print, as usual.

 

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On 5/28/2016 at 8:44 AM, Blarg said:

It took over 6 years to run a light rail from USC to Santa Monica. Good fucking luck getting the high speed rail done in this century.

And it doesn't take a brain surgeon to figure out.  That a 200 mph train running on the same tracks as 30 mph cargo trains = a recipe for disaster. 

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