Yesterday the SF Examiner editors came out in support of the $40 billion bond issue high-speed train between SF and LA. I quite naturally said - Say What?? Excuuuse me?? The SF Examiner agree to the LTE and published.
Letters: July 12, 2006
Jul 12, 2006 2:00 AM (4 hrs ago)
SAN FRANCISCO -
Your high-speed railway editorial is a prime example of the taxpayer-robbing thinking of legislators (“High-speed rail’s hidden benefits,” July 11).
Supporters claim it would eliminate airport expansion plans, reduce out-of-city road traffic, beat traffic congestion and facilitate travel between Los Angeles and San Francisco. To fund this grandiose program, taxpayers will pony up $40 billion in bonds, not including interest payments.
If it’s such a great deal, it’s a wonder no one has formed a high-speed train corporation to raise the funds to build the project. Or that free enterprise hasn’t issued long-term high-speed train bonds to be repaid from ticket sales, like the old days of railroad building.
The fact that Sacramento and Washington plan to force taxpayers, even those who don’t ride the high-speed train, to fund this scheme when free enterprise hasn’t bothered with it tells you all you need to know about the project.