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"Historically, cost overruns for rail projects nearly always arise and can be enormous. Consider a few examples. In Florida, the rail system proposed for Hillsborough County was originally estimated to cost $70 million per mile, but estimates now range from $85 to $120 million per mile. Chris Christie recently made national headlines for abandoning the ARC rail tunnel project that would have connected New York and New Jersey. The project was initially supposed to cost $5 million but projections have recent to $14 billion. With the federal government's share capped at $6 billion, undertaking the project could have left taxpayers on the hook for billions. The most infamous rail cost overrun was Boston's Big Dig, which was supposed to cost $2 billion back when the project was started in 1982. When the projected was finished 23 years later, the total bill came in at $15 billion, for which the state was forced to pay half. In other words, Massachusetts' share of the Big Dig ended up being over 3 times the total estimated cost."
And thats just for the cost to build it. States (taxpayers) then have to absorb the deficit to operate it (because the toll proceeds never come close).
So...when your grandkids come to you and ask how come he or she has to pay for that massive debt you stuck them with...just tell them...well...we didnt want anyone to say we were a laughing stock...so we dropped (on them) about a trillion dollars nationwide into building a system that has over the course of the last 20 years or so has cost them a few trillion more.
And thats just for the cost to build it. States (taxpayers) then have to absorb the deficit to operate it (because the toll proceeds never come close).
So...when your grandkids come to you and ask how come he or she has to pay for that massive debt you stuck them with...just tell them...well...we didnt want anyone to say we were a laughing stock...so we dropped (on them) about a trillion dollars nationwide into building a system that has over the course of the last 20 years or so has cost them a few trillion more.