The estimated cost of California's high-speed rail project is rising by billions of dollars.
Environmental impact studies released Tuesday and obtained in advance by The Associated Press put the cost of building the initial segment at anywhere from $10 billion to $13.9 billion.
That's sharply higher than the $7.1 billion estimate from 2009 for the Merced-to-Bakersfield section. Rail board executives say the higher costs include more elevated tracks in the Central Valley and more specific data about property values.
What a surprise. Politicians with the aid of environmentalists sold this "feel good" boondoggle to gullible voters and now we're stuck with footing the bill for decades to come. I wish I could say that there was a lesson learned here but I doubt it.
2 comments:
These bills of goods are sold to us all the time, VH. Unless we remain vigilant through lessons such as the one you have described, it will continue to happen. I wonder whose pockets were lined for this contract?
This will escalate to 10 billion no problem... just like the costs of the Bay Bridge.
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