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Last updateMon, 25 Apr 2016 10pm

California high-speed rail fiasco has funding problems

SAN FRANCISCO (Reuters) - California's effort to build a massive high-speed rail network suffered another setback on Tuesday when a peer review group charged with evaluating the project recommended lawmakers put it on hold. Specifically, the group said the state should not move ahead with the sale of the nearly $3 billion in bonds to finance initial construction with the first tranche of $10 billion in state-backed high-speed rail bonds authorized by voters in 2008. ...  Read Full Article
" But as the plan of the convention aims only at a partial union or consolidation, the State governments would clearly retain all the rights of sovereignty which they before had, and which were not, by that act, EXCLUSIVELY delegated to the United States. "

-- Alexander Hamilton (Federalist No. 32, 3 January 1788)

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