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CASH-STRAPPED CALIFORNIA OKS FUNDING FOR HIGH-SPEED RAIL
California lawmakers approved billions of dollars Friday in construction financing for the initial segment of the nation’s first dedicated high-speed rail line connecting Los Angeles and San Francisco.
The move marked a major political victory for Democratic Gov. Jerry Brown and the Obama administration. Both have promoted bullet trains as job generators and clean transportation alternatives.
“No economy can grow faster than its transportation network allows,” U.S. Transportation Secretary Ray LaHood said in a statement applauding the legislative vote. “With highways between California cities congested and airspace at a premium, Californians desperately need an alternative.”
The bill authorizes the state to begin selling $4.5 billion in voter-approved bonds that includes $2.6 billion to build an initial 130-mile stretch of the high-speed rail line in the Central Valley. That will allow the state to collect another $3.2 billion in federal funding that could have been rescinded if lawmakers failed to act Friday.
Brown pushed for the massive infrastructure project to accommodate expected growth in the nation’s most populous state, which now has 37 million people. He said the project is sorely needed to create jobs in a region with higher-than-average unemployment.
Members of the state Senate voted 21-16 along party lines after intense lobbying by Brown, Democratic leaders and labor groups. The bill, which passed the state Assembly on Thursday, now heads to Brown for his signature.
“The Legislature took bold action today that gets Californians back to work and puts California out in front once again,” Brown said in a statement. The governor celebrated with Senate President Pro Tem Darrell Steinberg of Sacramento, a fellow Democrat, in the lawmaker’s office right after the vote.
The first segment of the line will run from Madera to Bakersfield. The final cost of the completed project from Los Angeles to San Francisco would be $68 billion.
Republicans blasted the Senate decision, citing the state’s ongoing budget problems.
“It’s unfortunate that the majority would rather spend billions of dollars that we don’t have for a train to nowhere than keep schools open and harmless from budget cuts,” Sen. Tom Harman, R-Huntington Beach, said in a statement.
Sen. Ted Gaines, R-Granite Bay, said the project would push California over a fiscal cliff.
“It will require endless subsidies and will blast a massive hole into our budget,” Gaines said in a statement.
Tim
July 7th, 2012
Keep digging!
Can’t fix stupid.
grayscape
July 7th, 2012
After this we’re building a deathstar…because we watch movies and think it’s all fuking real. We suck.
Buffalobob
July 7th, 2012
“Going to hell in a high speed hand basket” comes to mind.
Anonymous
July 7th, 2012
It’s other people’s money, why not?
RosalindJ
July 7th, 2012
Then there’s this:
http://www.foxnews.com/politics/2012/07/05/california-cities-consider-seizing-mortgages/
Ornery1
July 7th, 2012
I can see it now–that illustration with the windmills and the zipping train will soon represent the wildlife valley of death and the Eco-nuts will cripple both projects.
grayscape
July 7th, 2012
Next we’re banning all energy sources except for dilithium crystals.
Were progressive and think fantasy is real…because intellectually we are still shoving peas in our noses and smearing shit on the wall.
Anonymous
July 7th, 2012
Solyndra X 500, on rails….
ChiefIlliniCake
July 7th, 2012
California and Ray LaHood are a match made in Hell.
MaryfromMarin
July 7th, 2012
Stupid, stupid, stupid. We just cranked up the pace toward total economic implosion here in CA.
The only way I’d use a train like this, is if it headed OUT of the state.
Stranded in Sonoma
July 7th, 2012
…that are rated A-, which is one small step below this:
…and one small step above this:
As a rule, I vote against every bond measure because while deficit spending by the legislature is an unapproved debt on future generations, bonds are a voter-approved debt on future generations.
No thanks.
Oh, and when no one rides this boondoggle, you’ll never hear about it in the press.
Ohio Dan""
July 7th, 2012
ChiefIlliniCake
July 7th, 2012
Boy, when ya see these libtards doubling down on retarded it really does seem like the Greek Tragedy is headed here as well.
If we don’t deliver a giant dick-slap to these assholes this fall…it’s game over. Because it’s painfully clear that THEY WILL NEVER stop themselves. It’s like a ratchet that only heads downward and they keep cranking it.
Clyde
July 7th, 2012
Madera to Bakersfield. That’s a HUGE market. World class* business and vacation hubs.
Maybe I’ll move back to CA so I can pay taxes to support those bonds.
Clyde
July 7th, 2012
And the best part? Voters approved the initial bond offering. Can the Darwin Award be given to an entire state?
Tim
July 7th, 2012
Maybe the OccuBaggers will buy the bonds?
BO and Moonbeam could prolly convince em.
Death_By_Farts
July 7th, 2012
LET THEM BUILD IT…Period.
When it becomes an EPIC FAIL, they will own it, and
and won’t be able to defend it.
Cynic
July 7th, 2012
The only good thing to come out of this will be the lessons learned in the other states. The ultimate implosion of California could be warning. The problem is, with that many Democratic electoral votes on the line, the feds will find a way to bail them out so they continue to get presidential votes.
I doubt he other liberal states will learn from the problems created.
Cynic
July 7th, 2012
I’d love to the Republicans use every environmental trick in the book to stall this project, and force the Dems to squawk about it. It would force them to oppose red tape and environmental regulations. The hypocrisy would be awesome.
MaryfromMarin
July 7th, 2012
Of course! This high-speed rail line must be one of the major lynchpins in the Agenda 21 abomination. That’s why it HAD to be passed.
Troy
July 7th, 2012
Wouldn’t LA to Vegas make more sense?
locknload
July 7th, 2012
Only in California – well Illinois would be as stupid if we had a reason to HAVE high speed rail
Bad Brad
July 7th, 2012
@Clyde
“Maybe I’ll move back to CA so I can pay taxes to support those bonds.”
Don’t worry about taxes here, come on back. Nobody else here is paying taxes. Tax revenue for the state is down 22% over last year. 2010-2009 it dropped 18%, I couldn’t find a figure for 2008, but I know it dropped. Last year 18% of the business’s in California relocated.
Brilliant people we have running this state. We already have automatic budget cuts kicking in because of the massive short fall. And yet they approve this crap. All the farmers in the valley will be able to commute to each others farms now.
Maybe if we are the first to crash and burn we will be the first to recover. It’s depressing as hell.
Clyde
July 7th, 2012
Interesting Brad. The most tempting thing to make me return is the Mexican food. Nothing like SoCal Mexican food.
Anonymous
July 7th, 2012
Our Florida Governor Rick Scott refused to play this game!
Hotlanta Mike
July 7th, 2012
If you are a business owner and you haven’t pulled up stakes from California you must be paralyzed from fear….
wehrmeister
July 7th, 2012
Even “The Simpsons” have something to offer on this:
http://youtu.be/AEZjzsnPhnw
boy o boy
July 7th, 2012
fimbeciles…
talk about STUFFIN’ the box
and we ain’t talking bout sharon stone
Gvii
July 7th, 2012
California. Cross the border into the state and enter a foreign land.
Joe Btfsplk
July 7th, 2012
Coming Soon! The UNBELIEVABLE 200MPH Financial Train Wreck!
jbinnout
July 7th, 2012
Wind turbines line the tracks are energized by the wind stream from the high speed train which in turn power the electric high speed train. This is genius. California, what can Brown do for you?
Cruisin' Cat
July 7th, 2012
“The bill authorizes the state to begin selling $4.5 billion in voter-approved bonds…”
As in the case with Stockton and Mammoth Lakes (so far)where they have filed for bankruptcy, what do you think those muni bonds will be worth as more cities become insolvent? (and they will)?
Hint: It comes on a roll.
Stranded in Sonoma
July 7th, 2012
We are hemorrhaging businesses, jobs, and high net worth individuals and this the replacement.
Though I do like @Cynic’s idea of using the environmental protection act and the endangered species act to stall this for a decade or more.
BWAHAhahahahahahaha!
FreeMan - Save Me Sarah
July 7th, 2012
They have to build this train. People can’t get out of this state fast enough right now.
MN Patriot
July 7th, 2012
The next leg of the rail will be LA to Honolulu.
FreeMan - Save Me Sarah
July 7th, 2012
@MN Patriot – and the fact is that people will get on it – Nancy P may be the first.
MN Patriot
July 7th, 2012
@FreeMan – Save Me Sarah, We have to git on the train before we can see where the train is going.
Bad Brad
July 7th, 2012
Ironically where they are building this thing is not near the heavy populated areas of Cali. Manteca is at the Southern end of the California Delta (one of the coolest places on earth) and goes south thru farm land from there. The same farm land that lays dormant do to the DELTA SMELT. Nothing better than a high speed rail trip thru dust. Tar and Feathers come to mind.
Gvii
July 7th, 2012
Bad Brad, yeah, the irony is as thick as a tectonic plate, ain’t it?
Moe Tom
July 7th, 2012
jbinnout. That’s what I had in mind. Marvelous. Train go. Turbine go. Wind flow. very fine. Train stop. Wind stop. We fucked.
RosalindJ
July 7th, 2012
All this talk of laying tracks either from or to nowhere strikes me as odd. What historical precedent is there for use of such?
Bad Brad
July 7th, 2012
First Transcontinental Railroad ring a bell. But they had a viable market.
Bad Brad
July 7th, 2012
Oh and it was paid for with private funds. That might be important.
Gvii
July 7th, 2012
Wonder if they’ll expand it to run to all the 57 states. Or at least to Asia, so we can all visit Hawaii by rail. That would be fun.
MaryfromMarin
July 7th, 2012
@Rosalind J–
“Historical precedent”? We don’t need no steenkin’ historical precedent!
reddecaesari
July 7th, 2012
a slush fund for unions. period.
Lazlo
July 7th, 2012
How the hell else is a limp wristed cock beaver supposed to get from his ass crack waxing in LA to his evening manroot feast in SF?
scr_north
July 8th, 2012
A hispeed rail link can be profitable but not in California and probably not in North America. The only way you’ll make a profit is to charge a high ticket price and/or penalize the airlines so that they severely reduce capacity over the routes travelled by the train.
Understand, I love train travel and have taken the Amtrak scenic routes (Sunset Express, Texas Eagle etc) and they are great trips to take (price is right as they are subsidized pretty heavily) and while I’d love a chance to take a hispeed train even I can tell you it’s a financial disaster in the making. By the by, if one of these puppies go off rail at speed (or becomes a target) the death toll would be staggering. There is just no need for it at this point and it’s just a boondoggle for the Dems and the Unions.
MaryfromMarin
July 8th, 2012
This is part of the price we are paying for this:
“City College of San Francisco on Brink of Closure”—- 90,000 students put at risk
http://www.sfgate.com/education/article/City-College-of-San-Francisco-on-brink-of-closure-3682955.php
Wyatt, Insensitive Jerk
July 8th, 2012
Is there a cocktail service? Because if there is, I’m behind this project 100% – in fact, I will probably need a cocktail. Maybe we can call it the Highspeed Highball Express.
kvn
July 8th, 2012
Brown train to broke town.
Eric
July 8th, 2012
Don’t you understand, it has to be built, or the prophesy in Atlas Shrugged(the movie) won’t come to be.
Let’s call it the Galt John line, ass-backward just like the thinking in the state house.
Also, 68B is very conservative, after the airlines sue for lost revenue following the “No Dog Eat Dog Act” they will have to pass.