We have a "light rail" system here that's one of the worst money holes in the country, and almost all mass transit systems are money holes.
Note in the article that the average taxpayer subsidy for light rail systems is 70 percent.
Government spending, despite the frantic defenses of Keynesians, is basically a license to burn money. The High Speed Rail project is just the most obvious example.
- The main goal of private investment is to have more money at the other end than you do going in.
- The main goal of public spending is to have more political power at the other end than you do going in.
This is why, all else being equal, money left in the private sector will always do more for the economy as a whole than money taken from the private sector and handed to politicians.
Flame » in reply to The creative disappearing budget act
Well, on the bright side we get that cool High Speed Train.