A hero legislature in California

California and Congress will likely borrow an additional $5 billion, at 7% interest over 30 years just to prepare for a Bullet Train that is not likely to survive the funding shortfalls. The state currently suffers a budget deficit close to 50% of outlays. Assemblywoman Diane Harkey comes to the defense of California. Joshua Melvin talks about her bill to stop the fiasco:

The legislation [BATN: AB2121 http://tinyurl.com/yd37pce>] by Assemblywoman
Diane Harkey, R-San Juan Capistrano, would use a little-known portion of the
state constitution to stop the sale of Proposition 1A bonds to pay for a portion
of the $42.6 billion train that would zip passengers between Northern and
Southern California in 2.5 hours. Up to $400 million of the $9.95 billion in
Proposition 1A money is slated for Bay Area train agencies to make upgrades
necessary to accommodate the 125-mph bullet trains.

Harkey said the state is already over its head in debt and the Legislature needs
to take a second a look at the project, which she isn't convinced is even
necessary.

A hero for the day, I wish her success.

This Bullet Train will not be built, no one wants to slave for that enormous interest expense incurred. Interest costs are high as California is bankrupt now and the Bullet Train pushes us into federal receivership. This recession was not caused by the low supply of Bullet Trains. This link summarizes the UC Berkely transit professionals who pan the idea.