A review board charged with analyzing the way that the high speed rail system in California will be funded is recommending to the legislature that issuance of bonds for the $98 billion project be denied because of uncertainty over future funding from the feds. Wall Street Journal: California's ambitious plan for a high-speed rail system hit a big roadblock Tuesday, as an independent panel urged lawmakers to deny authorizing the issuance of $2.7 billion in bonds to kick off the $98.5 billion project. The California High-Speed Rail Peer Review Group-which the state legislature appointed to analyze funding for the rail system-questioned the California High-Speed Rail Authority's plan to start construction without any assurance of future funding from the federal government, among other factors. Moving ahead "represents an immense financial risk" for California, the group said in its report, echoing concerns from critics who say the project could leave state taxpayers on the hook for...(Read Full Post)