Costs Of Governor Moonbeam’s Bullet Train Soar To $77 Billion (Video)

What a joke! Wait, this is not even a little funny. Truly a runaway train… The biggest waste of money and time in the history of California.

By the time they complete the project, it will probably be obsolete and have to be shut down because it’s time to modernize it.

Meanwhile, California‘s in a prolonged drought and no new dams are being planned or built to help fight the water shortage.

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OC Register:

Completing the dream of linking San Francisco to Los Angeles with direct, high-speed rail service is four years behind schedule and may cost at least $77.3 billion, roughly $13 billion more than planners anticipated, transportation officials said Friday.

The California High Speed Rail Authority released its updated business plan, a biennial report that offers a glimpse into the project’s construction costs, timeline, funding sources and ridership forecasts, showing a wide range of potential costs to complete the project — anywhere from 20 percent to 35 percent for each leg of construction.

The update comes on the heels of news that the first 119-mile segment between Madera — in the San Joaquin Valley — and a station north of Bakersfield is forecast to cost $10.6 billion, up from an initial estimate of $6 billion, due to a “worst case” combination of construction delays and higher-than-anticipated land acquisition costs. That segment is still on track to be completed by 2022, according to the report.

But, delays in other segments of the project, along with inflation and the need to increase contingency costs also helped drive up the cost, officials said. And, it’ll take more time. The full first phase of the project, which would extend from San Francisco to Anaheim and include a Merced station, is not expected to be complete until 2033, four years behind the completion date planners estimated in 2016. More

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