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March 19, 2013



From the Washington Times...more Brown stains:

Bonds are what enable politicians to build expensive projects today while leaving the full cost as a gift for future generations. Here the interest payments for the train bonds would have been formidable: $54 million a month for 30 years. So Sacramento legislators authorized a 40-year maturity for train bonds, thus reducing the state‚s monthly payment to merely $48 million. The extended terms further sends the cost of paying off the bonds soaring to $23.2 billion. Suddenly, the $68 billion deal will cost $81 billion and that‚s before the inevitable cost overruns.

pat giorni

I never thought I'd sit in the same balcony as Mr. Transportation!

However, to say QK has flip-flopped is erroneous...he is attempting to protect his legacy by not having his name attached to what has become a conventional rail project. He wants it "done right" as has become everybody's battle cry, for which one cannot fault him. I can only applaud his willingness to uphold the law which the Legislature has chosen to ignore.



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