Maybe then it will just die a death of its own making–or that of the genius pols who just keep throwing your good money after bad. The Office of the Inspector General-High Speed Rail issued a report that includes this: “The business plan does not sufficiently emphasize that the Authority will exhaust its current funding resources as soon as December 2027 if it does not secure financing.”
The state only needs $9.5 billion over the next five years for the train that has no tracks, trains and has missed multiple deadlines–including the launch date which was years ago.
The plan is amended to have a train delivery and test date of ‘no later than February 2030’–which given the delays an exorbitant cost overruns, seems unlikely. The state needs the money, but the feds are not inclined to fund this–so who is going to pay for the No-Train-No-Tracks-To Nowhere? Read Julie Watts detailed reporting below.
The OIG also had this observation about how secretive and dishonest the proponents have been: “Compounding these transparency concerns, the Authority’s recent annual reporting has been incomplete and late. As a result, neither decisionmakers nor members of the public have had the full benefit of opportunities that the law provides to oversee and comment on the project. For example, although the Authority added information to the final business plan to address concerns we raised about its completeness, stakeholders had only a few days to review and comment on this information prior to the plan’s adoption by the Board.”
Julie Watts, who has been covering the epic fail, has this great story on CBSNews.com
And here is Julie Watts’ report that outed the myriad failure of the Newsom government--for which Newsom falsely blamed President Trump.
