Saturday, November 23

Railroaded Into Debt

Pinterest LinkedIn Tumblr +

I’m all for hubris-ridden state-funded displays of masculinity, but, seriously – trains? This is the daring engineering project we as Americans are going spend our time, energy and (borrowed) treasure upon? Why not go to Mars, create synthetic petroleum, construct the world’s tallest building or solidify our position as keepers of the world’s largest ball of twine?

But why, Theo, are you so set against high speed rail? The idea itself is not bad, but it is insanely cost-prohibitive. Every item on my list of projects (yes, even the twine one) has the distinct advantage of not being yet another tremendous sinkhole of taxpayer money for decades to come.

China’s rail system is disturbingly in debt. It can barely pay the interest on all the loans they’ve taken out to build a rail system that no one can afford to ride. Out of the 23 rail projects currently under construction there, about 70 percent have either been suspended or delayed. France’s debt woes are driving it to abandon its high speed rail system, opting for the cheaper, and much more affordable to the average worker, conventional train. Japan has only one high speed rail line that is not entirely dependent on government subsidies for its existence.

We already dole out large amounts of money to keep infrastructure like highways and old school rails in working order, so do we really need to fund another, more expensive alternative system simply because China is doing it? The answer is no.

1 2 3
Share.

1 Comment

  1. Jerry Brown is the biggest reason successful businesses are fleeing California for other states.  He’s a hardcore left winger who has no understanding of running a business.  For that matter, neither do most of the Democrats who run the state assembly and senate, of the majority that voted for them — courtesy of the radical teacher’s unions that are not interested in students but only in increasing pay for their (there are several teacher’s unions) members.  Californians had a chance to do the right thing and vote for Meg Whitman, who actually did run a successful company, but they chose not to — to their peril.

    What’s funny is that even the reporters knew that high speed trains are boondoggles.  Several of them shouted questions out a Brown when they asked him how it was going to be paid for.  His answer was similar to “if you build it they will come.”  Jerry, this is real life and not a Hollywood movie.  He’s a moron who helped put the final nails in the state’s coffin.  We can only hope that some of the lawsuits being waged will put a stop to this bogus train mess.