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Nationalist Pundit

America First, Last and Always!

Jerry Brown Bullet Train Fiasco

August 10, 2017

If you are a citizen of California and expect your crummy roads fixed, forget about it! Governor Jerry Brown and his bullet train fiasco is gobbling up the Golden State′s funds. Brown has been busy shuffling the deck to come up with the estimated $68 Billion dollars for the railway boondoggle. The project was originally proposed at a budget of just $33 Billion, and now, some experts predict it will cost $200 Billion or more before completed. Jerry Brown is drawing from funds designated to repair California′s highway system, and is not stopping there. Tax increases are planned to raise more revenue, as well as more bond initiatives. The state already has the highest taxes and fees in the country, forcing Brown to even beg for more cash from President Donald Trump, like that will ever happen!

 

 

 

The latest issue on the table is a proposed ACA 1 ′Cap-and-Trade′, carbon tax to repay a bond issue for the second phase of construction, estimated around $20 Billion dollars. This would build a railway between Fresno and San Jose. Phase One will run in the San Joaquin Valley from Merced to Bakersfield. But its cost does not include powering the line with electricity, nor the expense of buying the locomotives, passenger and freight cars. One wonders where THAT money will come from, not to mention how much?

 

The ACA 1 ballot proposal will be voted on next year in California. If it passes, the state will auction cap-and-trade emission allowances each quarter. Starting in 2024, the money raised must be diverted into a special reserve fund, which will require a two-thirds appropriation vote by the state legislature to access. However, until then, the state can spend that money any way they please, including a 25% mandatory earmark for the bullet train project. With the state legislature already giving the Democrats a two-thirds majority in both houses, it is rather obvious that they will decide on how to spend the money.

 

Oh, but wait! There is another gem in this plan! Should the ACA 1 pass into law, any two-thirds appropriation vote, even if just one cent is voted to be spent from the reserve fund, the legislature can spend any other amount from the reserve fund after 2024 with just a simple majority. So, the odds are that no money from this cap-and-trade auction will ever be spent to repay bonds by the High Speed Rail Authority. It will just become another slush fund for Democratic legislators to waste on whatever they want.

 

There are plenty of other problems with the California Bullet Train Project, such as environmental impact on some endangered species and the usual bureaucratic nonsense. But Governor Jerry Brown is determined to get this boondoggle going. The very idea of such a high speed train in the land of earthquakes and mudslides is dream come true for disaster movie makers like the deceased Irwin Allen. Its too bad, too, this scheme wasn′t around 30 years ago because I can see a cast of Charleton Heston, Ava Gardner and Lorne Greene racing against time to save the passengers before their bullet train flies off the track into a canyon following a shaker. As the song goes, ″History shows again and again how Nature destroys the folly of Men..., GODZILLA!″

 

For more REAL NEWS and views, follow Andrew Zarowny on Facebook and on Twitter @mrcapitalist.

 

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