President Obama has proposed billions for a speedy train project that might run right through  his home state of Illinois - home also of the powerful Democratic Senator Dick Durbin and that of Transportation Secretary Ray Lahood. This is being billed  as a stimulus measure and , of course, has all the requisite green energy checkmarks.Does anyone in Washignton have a memory of what a fiscal albatross Amtrak has become? If not, they might also peruse what a fiscal train wreck has been created by commuter lines across America. Chicago has a third world class commuter system that has been bailed out repeatedly by the taxpayers of Illinois. The transit systems end up being run inefficiently because they become sources of featherbedding. Also, politicians use them as places to absorb partisan hires. Then there are the unions that give employees unaffordable contracts that allow them to retire at a young age with golden parachute pensions that are legally required to be...(Read Full Post)