Tuesday 17 October 2017

WHY ET3 WILL SAVE CALIFORNIA

Voters and politicians have made spending commitments that are unsustainable even when the economy is healthy.

They have even slashed taxes for special interest groups, reducing revenues further and thus making the chronic deficits even worse.

California’s evident governmental dysfunction, a malady most obvious in its chronically unbalanced state budget. whose chronic deficits and soaring public debt have driven it to virtual insolvency, requiring massive bailouts.

Zimbabwe, whose debt is three times its economy, topped the chart, followed by Japan (192 percent). Greece has the eighth highest percentage, 108 percent, and the U.S. is 42nd at 58 percent, lower than Great Britain, France and Germany. In contrast, Russia is 124th at just 7 percent.

California’s official debt, mostly bonds, is not particularly high. State and local governments might owe something north of $100 billion in bond debt, around 5 or 6 percent of the state’s economy.

California could have, therefore, as much as a trillion dollars in real debt, which works out to about 55 percent of its annual economy and, by happenstance, is almost exactly what the federal government’s debt is said to be.

This above article is an extract from and acknowledges the Sacramento Bee as the resource of facts and figures.

COMMENT:

The only hope California citizens have is that ET3 gets to be evaluated before the proposed CHSRA moves ahead into a full time subsidy for the next generation to carry the economic burden.

Does this concept only cater for allowing the politbureau to use the system to get to and from their government centers? Why does the system not cater for the transportation of goods to port facilities?

Imagine the cotton wool that has been drawn over the eyes of the public to support the bond issue for this ancient system of transportation. Imagine how citizens will have to bare the costs of travel to limited stations with their own vehicles from afar. (& Pay for parking spaces?)  Imagine the percentage of citizens by total number in California that will have been taxed that this point-to-point system will serve.

Will California citizens ever get the full benefit of using the limited number of trains at the limited number of stations? What is the waiting time if citizens miss the train at the station? Is this the best supplemental transportation solution to serve the population and geography of California? In addition there are many other questions to ask about the viability of the cost/benefit ratio.

This whole old fast-train idea needs to be substituted with ET3.

Graham Kaye-Eddie

M.U.D.                   420 words              11/4/2011

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