11.01.2011

Costs for CA High-Speed Rail Increase Faster Than a Speeding Bullet

When California voters approved Proposition 1A in November, 2008, authorizing $9.95 billion in bonds for High-Speed Rail, the CHSRA (California High-Speed Rail Assn) estimated the entire project would cost $33 billion. Federal and private funding were to make up the difference.

In December, 2009, the CHRSA revised the cost for the first phase of the project upward to $43 billion. In February, 2011, the project’s actual cost was estimated to be approximately $65 billion, according to the watchdog group Californians Advocating Responsible Rail Development.

Now, with California's budget dried up and over-leveraged, the cost of California's massive high-speed fail project is increasing faster than a speeding bullet - zooming to nearly $100 billion -- triple the estimate given to voters and more than enough to run the entire state government for a year. 

Hard to believe this is a government project right?

at Tuesday, November 01, 2011
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1 comments:

aece said...

Wow I am absolutely shocked! You mean that a gov't projection of cost was WAAAAAAY wrong? This is not unusual and predicted by CL

November 8, 2011 at 10:45 AM

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