They just can't do anything right - from Next Big Future:
California high speed rail is doomed and ultimately will cost $19.5 billion to repay in bonds including interest
The cost of the 119 mile Central Valley section has now officially gone up to $10.6 billion. California does not have budgeted money to finish. California has to find extra money for that section.
California High Speed Rail Authority will have to go to the state Legislature for a supplemental appropriation from the bonds that voters approved in 2008. The remaining bonds probably would cover the cost increases, but deplete funds for further construction beyond the Central Valley. The 119-mile section is useless. They need $20-40 billion to build the 300 miles needed for a minimum LA to San Jose system.
Assuming they do not try to dump good money after bad, it willcost $19.5 billion to repay the bonds with interest. California could have built some overpriced highways and BART extensions with that money.
The new estimate was presented Tuesday by Roy Hill, who leads the main consulting firm on the project, WSP (formerly Parson Brinckerhoff). Hill said the cost increases were mainly driven by problems including higher costs for land acquisition, issues in relocating utility systems, the need for safety barriers where the bullet trains would operate near freight lines and demands by stakeholders for the mitigation of myriad issues.
It would be substantially cheaper to buy every potential rider a car. In lieu of annual maintenance costs, they could give each person $10K for gasoline.
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