Pulling the Brake

Last year we, er, railed against the boondoggle known as the California high-speed rail (HSR) project, aka the train to nowhere. Yesterday Sacramento judge Michael Kenny halted the $10 billion expenditure of bond funds until a realistic plan for raising the remaining $15 billion is presented.

the state's current financing plan does not comply with the promises made to voters in 2008 when they approved selling $10 billion in bonds for the project. Beyond the $6 billion in state and federal funds for the first 130 miles, the judge said, revenue is theoretical rather than "reasonably expected actually to be available starting in 2015." The current cost estimate for building the first 300 miles, which the judge has indicated he believes is what the bond measure intended to finance, is $31 billion.

Supporters of HSR were undoubtedly counting on the project's momentum and arm-twisting by special-interest beneficiaries to force continuation of the project regardless of the wording in the 2008 initiative. HSR may still proceed if the legislature votes the funds, or if a realistic financing plan is devised.  Nevertheless, Judge Kenny's insistence that the Governor and other supporters live up to the promises they made to get the law passed is refreshing....and rare.