Bill’s California Proposition Guide 2008

Posted by Bill on Nov 3rd, 2008
2008
Nov 3

I have included a summary of each proposition from the Secretary of State in California and then given my commentary and advice on voting.  Here we go!

1A
To provide Californians a safe, convenient, affordable, and reliable alternative to driving and high gas prices; to provide good-paying jobs and improve California’s economy while reducing air pollution, global warming greenhouse gases, and our dependence on foreign oil, shall $9.95 billion in bonds be issued to establish a clean, efficient high-speed train service linking Southern California, the Sacramento/San Joaquin Valley, and the San Francisco Bay Area, with at least 90 percent of bond funds spent for specific projects, with private and public matching funds required, including, but not limited to, federal funds, funds from revenue bonds, and local funds, and all bond funds subject to independent audits? Fiscal Impact: State costs of $19.4 billion, assuming 30 years to pay both principal and interest costs of the bonds. Payments would average about $647 million per year. When constructed, unknown operation and maintenance costs, probably over $1 billion annually; at least partially, and potentially fully, offset by passenger fares.

MY TAKE: $19.4 billion to start, and then at least $1 billion annually!  And who knows when the damn thing would be operational.  Do you have any idea how many tunnels and bridges would be required to build this?  There is a reason why private industry has not done this: It is not expensive or difficult to make this flight on an airplane.  This is a huge waste of taxpayer money.  The state is already in dire financial straits.  This proposition makes things worse.
NO
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