California digs fiscal grave on high speed rail boondoggle

Yesterday the Democrats in the California State Senate approved on a straight party line vote the final funding authorization for building a high-speed rail through the Central Valley. Based on cost overruns for other government boondoggles like Boston's Big Dig, today's vote could eventually cost the taxpayers of California and the rest of this nation a staggering $400 billion dollars. ($400,000,000,000.00)  Which is not much less than the amount of indebtedness ($497,900,000,000.00) California owes in unfunded liabilities to the pension and health benefits plans of its current and retired workers. The Democrats and their union puppet masters have shown the country that denial, stupidity and a willful disregard for basic economics are fully deployed in adding to California's already astronomical debt service.  This is the same state where the bathrooms in the state parks lack toilet paper due to state funding cuts. Perhaps California could begin to print its own currency...(Read Full Post)