So, California is broke. Public sector unions and massive regulations have totally destroyed the budget. The state has a massive pension crisis. Moody’s has tripled its pension debt estimates (of which California is the biggest offender and carryer of such debt) just today. Citation below in the “extras” at bottom of post.
As the state moves forward on high speed rail, remember this day. Remember this week when the State of California moved forward with this massive spending project while going broke.
“Progressive Railroading” reports today that “California Legislature’s high-speed-rail funding approval will help advance Caltrain’s modernization.” Wow, progressive spending is going to lead to a real cool train that others can pay for. So, super high speed rail is going in earthquake country? Really smart.
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