All Aboard The Red-Ink Express
High-Speed Rail: The fantasy of 200-mph bullet trains speeding between American cities is heading for a collision with reality, with a cost explosion in California not far down the line.
For a state with a $20 billion budget deficit, you’d think a $2.25 billion shot of federal stimulus funds would be a cause for celebration. Not so in California. The money, granted recently to start construction on a high-speed rail system, will bring no short-term relief and sets the state up for plenty of long-range trouble. By giving the costly project such a generous federal lifeline, it provides a degree of momentum that may be hard to stop.