Obama’s High-Speed Rail Plan is a Fiscal Pipedream
We suppose every President is entitled to a pipedream, but President Obama’s vow in his State of the Union address that 80% of Americans should have access to high-speed rail in 25 years is a doozy. Vice President Joe Biden has followed up by proposing $53 billion in high-speed rail funding over the next six years. Seriously?
On recent evidence, this train is running in reverse. Though the Obama administration has allocated more than $10 billion for high-speed rail projects the past two years, the new Republican governors of Wisconsin and Ohio, Scott Walker and John Kasich, have rejected the federal money. They don’t want to put their taxpayers on the hook for projects destined for Insolvency Junction. Florida Gov. Rick Scott is also reconsidering his state’s proposed Orlando-Tampa line.