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Re: Question about Calif High Speed Rail
Author: Edward
Date: 04-16-2017 - 12:12
Whatever other data you use, remember a few facts:
1. Proposition 1A was intended to begin construction, not pay for the whole thing.
2. The original estimate of the cost was in dollars of *That* year. Later it was required that all estimates be in dollars of the year of construction. In other words add in future inflation so the cost will appear greater because people think in present dollars.
There is no doubt that it *does* cost more than the original estimates. But the big underestimation was the cost of all the litigation and delays brought about by NIMBYs and those opposed to the project on political grounds.
You can see this opposition on principle by the fact that when attempts were made to reduce the cost by the blended plan it was attacked. If the cost is too high why attack an attempt to reduce the cost?
Cue the .....
1. Proposition 1A was intended to begin construction, not pay for the whole thing.
2. The original estimate of the cost was in dollars of *That* year. Later it was required that all estimates be in dollars of the year of construction. In other words add in future inflation so the cost will appear greater because people think in present dollars.
There is no doubt that it *does* cost more than the original estimates. But the big underestimation was the cost of all the litigation and delays brought about by NIMBYs and those opposed to the project on political grounds.
You can see this opposition on principle by the fact that when attempts were made to reduce the cost by the blended plan it was attacked. If the cost is too high why attack an attempt to reduce the cost?
Cue the .....
