To the editor: So the Excessive-Pace Rail Authority needs the nice residents of states like, say, Maine and Hawaii to assist fund the hideously costly bullet prepare with their federal tax {dollars} although none of them shall be driving the prepare themselves repeatedly (“California’s high-speed rail leaders sound alarm over venture’s monetary future,” Could 1). Because the prepare will serve solely the state of California and never Hawaii and Maine, it’s truthful that solely federal tax cash generated by California ought to be used for this boondoggle.
In the meantime, the concept of public/non-public partnerships to fund the prepare venture is a determined fantasy. What non-public funding firm would contribute to this $100-billion-over-budget fiasco? What hope have they got for an affordable return on the chance?
The bullet prepare and its preliminary bond financing had been bought to California tax-paying voters as a superior different to car and airplane journey. A fantastic concept on the time, however not anymore contemplating the present estimate of future value. It’s time to mothball what has been constructed thus far, spend on extra pressing points and maybe resurrect the prepare at some future level.
Dick Helmuth, Costa Mesa
