American Economics Thread

[Tse]

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SACRAMENTO, Calif. — Gov. Gavin Newsom on Tuesday highlighted what his administration calls a major milestone in California’s long-delayed high-speed rail project, saying the state is nearing the start of track-laying for the first 119 miles of the system.

Kiley and other critics argue the project has exceeded initial cost estimates by tens of billions of dollars and has taken far longer than originally planned. Estimates have ranged from roughly $88 billion to $128 billion above early projections, according to critics.

For context, the bill to construct this one HSR line was passed in 2008, the contracts were awarded in 2013 and the groundbreaking ceremony was in 2015. Yesterday they have announced that they are nearing the start of tracklaying, although USD 15 billion have already been spent.

 

[antiterror13]

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For context, the bill to construct this one HSR line was passed in 2008, the contracts were awarded in 2013 and the groundbreaking ceremony was in 2015. Yesterday they have announced that they are nearing the start of tracklaying, although USD 15 billion have already been spent.

Imagine with US$15B, how many kms would be built in China. In China the average cost is ~$15-20M per km, so China could have built 1,000 kms with that money, not zero km