That would be the California high speed train to nowhere which is actually going to begin construction this summer.

        I’d like to call this project a “train wreck” but the metaphor does not work bc they will never build enough track to actually start the choo-choo.

        Who’s to blame here? Let’s start with Mr. Obama who basically donated about $8 billion in taxpayer money to get the project the started. California also raised about $8 billion in a bond offering. But the worst case scenario projected total cost  is about 117 billion.

Should California secure the extra 100 billion before starting? No. This is not exactly “if you build it they will come” but more like “you won’t get the money unless you spend it.” The fed money came with deadlines. They can’t just bank it.

       California doesn’t remotely have an extra 100 billion to spend on rail. So there is no funding to pay for any more than the first 29 or so miles of track. They have not acquired property for the entire track either nor acquired environmental permits.

       But California officials had two great ideas  to deal with the cost problem. First, they picked the low bidder. They had five bidders for the project – four European firms that had actually built high speed rails and one guy  who says “how hard could it be?” Just a coincidence that his bid came in 100 million less than the established firms.

        Second, and this is brilliant – they decided “let’s just use the existing railroad track wherever we can.” Well, this will indeed save money. But the problem is – we no longer have a high speed choo choo when it gets on regular tracks. And this means fewer passengers and lower ticket prices which kills the rosy operating revenue projections.

        So here’s what’s going to happen, The “how hard could it be” guy is going to build a few dozen miles of track, demand more money to go further, he won’t get it,  and the whole project will die a painful death. The taxpayers and bond holders will take it on the chin of course.  

      And in the next election instead of hearing about that bridge to nowhere, you will hear about the California train to nowhere