CA High-Speed Rail: Over Budget, Behind Schedule

[MechAg94]

http://www.breitbart.com/california/2017/01/14/lat-federal-report-finds-massive-cost-overruns-californias-high-speed-rail/

A new, confidential federal report shows that the initial segment of California’s partially federally-funded high speed rail (HSR) project will come in massively over budget and far behind schedule, the Los Angeles Times reports.

Who would have guessed that a Govt High Speed Rail Construction project would go over budget or get behind schedule.  That never happens.   

[makattak]

http://www.breitbart.com/california/2017/01/14/lat-federal-report-finds-massive-cost-overruns-californias-high-speed-rail/
Who would have guessed that a Govt High Speed Rail Construction project would go over budget or get behind schedule.  That never happens.  

I'm shocked!

[roo_ster]

They should have gone with an even earlier antiquated mode of transportation: "high speed solar powered canals."

[Angel Eyes]

. . . and in other breaking news: water is wet.

[HankB]

Large government-funded public works projects are an EXCELLENT way to convert public funds into private fortunes; I've little doubt that a sleuth with the resources to pursue this would find undisclosed connections between the elected officials (& their minions in the .gov bureaucracy) who arranged funding for this nonsense, and the people who won the contracts to build, design, and manage it.

[Ben]

And the funniest part is that the only section that was approved for building is from point middle of nowhere to point slightly left of nowhere. The whole "LA to Sacramento to SanFran" would cost probably 50 times as much.

[makattak]

And the funniest part is that the only section that was approved for building is from point middle of nowhere to point slightly left of nowhere. The whole "LA to Sacramento to SanFran" would cost probably 50 times as much.

You dropped a few zeroes there.

[DittoHead]

Large government-funded public works projects are an EXCELLENT way to convert public funds into private fortunes; I've little doubt that a sleuth with the resources to pursue this would find undisclosed connections between the elected officials (& their minions in the .gov bureaucracy) who arranged funding for this nonsense, and the people who won the contracts to build, design, and manage it.

Trump wants to try his hand at it too. I agree with the article, it could work 
http://www.redstate.com/diary/jdrucker/2016/12/21/trillion-dollar-infrastructure-play-stimulus-done-right...-wrong/

[roo_ster]

Large government-funded public works projects are an EXCELLENT way to convert public funds into private fortunes...

How it works in Texas:
1. Siphon off 47% of state fuel taxes for other non-road spending.
2. Promote a private tollway as the only way to build new capacity.
3. Private Firm #1 (PF1) underbids in building cost or over-estimates revenue and wins contract and state issues state bonds to help finance.
4. PF1 builds and starts toll road but then goes tango uniform bankrupt.
5. PF2 steps in, buys up the toll road at a steep discount, and then runs it at the old toll rates, which are now enough to finance the debt.
6. Taxpayers screwed hard about every step of the way. 

[freakazoid]

I think I read somewhere that Dianne Feinstein's husband owns shares or is the owner of the company that got the contract.

[HankB]

How it works in Texas:
1. Siphon off 47% of state fuel taxes for other non-road spending.
2. Promote a private tollway as the only way to build new capacity.
3. Private Firm #1 (PF1) underbids in building cost or over-estimates revenue and wins contract and state issues state bonds to help finance.
4. PF1 builds and starts toll road but then goes tango uniform bankrupt.
5. PF2 steps in, buys up the toll road at a steep discount, and then runs it at the old toll rates, which are now enough to finance the debt.
6. Taxpayers screwed hard about every step of the way. 

How it works in Austin, TX:

1. Pay a consultant to determine how to manage traffic along Riverside Drive.
2. Get consultant's report that building peninsulas out from the curb to periodically NARROW the road is a great idea, and will have a "traffic calming" effect.
3. Ignore (or denounce and condemn) everyone who points out it's an ineffably dumb idea.
4. Let the contracts and build the peninsulas.
5. Discover(!) that not only are cars damaged by hitting these peninsulas, but bicycles are forced into traffic lanes and traffic actually backs up and is obstructed.
6. Pay more consultants to report that it really WAS a dumb idea.
7. Let new contracts to remove the peninsulas.
8. Profit!