California And Obama Prove That “Yes We Can!” Dig A Deeper Hole

Via Hot Air, we learn that California’s budget follies don’t seem to be heading toward a rational ending any time soon:

On Thursday, the California High Speed Rail Authority board unanimously approved the 65-mile “train to nowhere” that would link two tiny towns at a cost of $4.15 billion, all because the state didn’t want to lose $2 billion in federal stimulus funds.

The rail line would connect two central California towns, Borden and Corcoran, with a combined population of 25,000. But that’s merely an estimate from Democratic Rep. Dennis Cardoza, an opponent of the plan. In reality, the San Jose Mercury News notes, Borden “is an unincorporated community for which the U.S. Census Bureau doesn’t even keep official population estimates.”

To be fair (although they hardly deserve it), the High Speed Rail Authority board is acting in a rush to spend the money before the new Congress claws back any unspent funds from the Democrats’ failed stimulus spending orgy.  California has already spent $200 million “planning” for the rail line, and wants to hold on to $2 Billion federal dollars. 

Let’s recap.  California is broke.  So are the Feds.  So the state is going to spend over $4 Billion in state funny money to secure $2 Billion in federal funny money that it will use to build a train line connecting a collective 25,000 people to each other.   Assuming a ticket price of $5.00/trip, and no operating costs, all those people have to do is take about 49,000 trips each for the thing to break even.

I guess we know why California and the Feds are both broke. 

We don’t have a taxing problem.  We have a spending problem.

Published in: on December 3, 2010 at 1:00 pm  Leave a Comment  

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