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That optimism in the face of a dire economic outlook is the product of the priorities of President-elect Barack Obama's administration; the likelihood of a big federal infrastructure investment; growing concern over climate change; the volatility of gas prices; Californians' backing of the $10 billion high-speed rail bond measure and strong support for the project from the state's potent congressional delegation, including Sen. Dianne Feinstein and House Speaker Nancy Pelosi.
"It seems like the stars are aligned," said Rod Diridon of San Jose, a member of the High Speed Rail Authority.
Building the San Francisco-to-Los Angeles and Anaheim line that will be the spine of the system will cost between $32.8 billion and $33.6 billion, according to the High Speed Rail Authority's business report. Extensions built later would cost another $12 billion. In addition to the $10 billion from state bond sales, the authority is counting on $12 billion to $16 billion in federal funds plus $6.5 billion to $7.5 billion in private investment and $2 billion to $3 billion in local contributions.
Friday, December 26, 2008
SUPERTRAIN
I think too often when such things are proposed the "perfect is the enemy of the good" syndrome sets in among good liberals. But a SUPERTRAIN in California is a good idea, and if they actually do it right will be a great idea.