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Response to Le Taz Hot (Original post)

Thu May 8, 2014, 12:21 PM

14. I can't believe they're still doing this. It's idiotic.

Basically, the courts have said that they're not allowed to have the bond money because the current project no longer matches what the original ballot measure promised. The HSR authority has admitted publicly that it cannot build the system that the voters actually wanted, but it wants the money anyway so that it can build something else. The courts, correctly, have stated that this isn't legal.

The HSR authority has still has $3.8 billion in federal matching funds that were given to the state by Congress. ALL of the planning and initial construction will use these matching funds since the state funds are unavailable (and potentially may remain so for years, as it's looking more and more like this case may end up in the Supreme Court's lap). They are blindly and optimistically assuming that the state funds will be available at some point, and are running off the federal dollars.

If the courts rule that the state cannot take the money from the failed bond plan and apply it to a different project, the state of California will be on the hook to the feds and will have to pay every dime of that money back out of the general fund. That money will come out of our school and road budgets. They are, in effect, gambling with the state budget.

The worst part is that, even if they do manage to get the money, it will only build the first section in the Valley. Polling has consistently shown that support for the project has evaporated among Californian's. 70% of the states voters want a second vote on the project. A majority want it stopped outright. Even high profile Democratic party leaders like Gavin Newsom have pulled their support for it, saying that the voters are being defrauded.

The project will need nearly $70 billion in funding just to build the basics and get the system operational. The voters only approved $10 billion in funding for the project. In order to finish it, the state will need to go back to the voters to ask for another $60 billion in bonds, and all indicators suggest that additional bond measures for the project have almost no chance of being succesful. So at the end of it all, if they manage to get their hands on the $10 billion already approved, this will simply end up being a very expensive (and redundant) freight rail line.

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Replies to this discussion thread
Arrow 15 replies Author Time Post
Le Taz Hot May 2014 OP
NYC_SKP May 2014 #1
Tikki May 2014 #2
okaawhatever May 2014 #3
bananas May 2014 #4
Le Taz Hot May 2014 #6
allan01 May 2014 #5
savalez May 2014 #7
americannightmare May 2014 #8
Massacure May 2014 #9
Throd May 2014 #10
taught_me_patience May 2014 #11
Le Taz Hot May 2014 #12
Throd May 2014 #13
LineNew Reply I can't believe they're still doing this. It's idiotic.
Xithras May 2014 #14
miyazaki May 2014 #15
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