Voters narrowly approved issuing $9.95 billion in bonds, with expectations that the federal government and private investors would cover the rest. But after the election, cost estimates rose to $43 billion for the Los Angeles-San Francisco project alone.
Also, the one-way fare between the two cities was predicted to be $55, making it cheaper than flying. But after the election, ticket price estimates rose to $105, observes Adam B. Summers, a policy analyst at the Reason Foundation.
“Like most large public infrastructure projects, the California high-speed rail project was sold to the public based on false promises, exaggerated benefits and low-ball cost estimates,” Summers writes in an opinion piece for the San Diego Union-Tribune.
He points out that ridership estimates are projected as high as 117 million passengers per year. Yet the entire Amtrak system, which includes more than 500 destinations and 21,000 miles of track, serves just 27 million passengers a year. (emphasis mine)
The actual cost is over 400% of the original projections, ( lies ) the ridership projections are so inflated that it is almost beyond comprehension, as in Amtrak serving 27 million riders a year while the scheming politicians and fraudsters had the people of California believing that this high-speed rail project would have 117 million riders a year. WOW. Where the hell did Californians think all these riders would come from? False promises, exaggerated revenue projections and benefits and low-ball cost estimates, and the people of California bought it up like $10 dollar Gucci handbags at a flea market! Right there we see every reason Governor Scott turned down this rail scheme, and he is proven to be 100% correct, and yet we still have some morons down here in Florida, ( The St Pete Times to name the biggest one ) crying about his decision. Amazing.
Mr Summers also pointed out the insanity of this boondoggle was exposed as early as 2008, yet the corruto-crats and the California media puppets of the Liberal machine kept the truth from the people:
Summers notes that a September 2008 study published by the Reason Foundation and the Howard Jarvis Taxpayers Association found that the actual cost of the high-speed rail system would be at least $65 billion and perhaps as high as $81 billion, and that “the project was not viable because it was based on wildly optimistic assumptions.”
Governors in Florida, Ohio, and Wisconsin have recently canceled plans for high-speed rail projects in their states. Summers urges that California, which is running deficits of up to $25 billion a year, “should follow their example and put a stop to this boondoggle before it becomes yet another budgetary black hole for the state.”
Thank you Governor Scott and the other Governors that have protected the taxpayers by refusing this Liberal high-speed rail scheme that is being promoted by most of the lame media puppets across America today. I hereby issue a challenge to ABC, NBC, CBS, MSNBC, CNN, and Fox to report this information on the high-0speed rail rip-off that now hangs over the California taxpayers heads for decades to come, all simply because of media manipulation, malpractice and flat out lies. What say you MSM ?