Decision in November: Ride Amtrak or buy a Ford

Jim McElhatton of The Washington Times wrote in his recent article, "Fraud, abuse found rampant at Amtrak": One Amtrak employee spent much of his time in the office sending emails to women he met through a half-dozen online dating sites and claimed overtime pay for hours he spent officiating high school sporting events.  Another worker may have received more than $100,000 in bogus overtime, records show. Unfortunately, as the article describes, overtime abuses aren't the only problem at Amtrak.  Moreover, as reported in Smart Money by Kristen Bellstrom and Jen Wieczner, since 1971, the year Amtrak was created by Congress, it has never turned a profit. Worse yet, according to The Economist, in 2011 alone it required $1.4 billion in government subsidies to keep operating. This is what happens when the government runs a business? Not subject to market forces, government-run businesses need not provide a product or service at a price people are willing to pay.  In...(Read Full Post)