High-speed rail and the poverty of Obamanomics

posted by
February 13, 2011
Independent Institute
by William Shughart  
Posted in Commentary

"The president’s budget proposal is a bad idea for at least two reasons. First and foremost, the public sector has little or no incentive to spend the taxpayers’ money in ways that maximize the ratio of benefits to costs. What is more important, no public transit system in the country, with the possible exception of New York City’s subway, generates passenger revenues sufficient to cover operating costs, let alone capital costs. All others gush red ink year after year." (02/11/11)



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