The upside of the downturn

One of the measures on the November ballot, Proposition 1A, calls for almost ten billion dollars in bonds to help fund a high speed train between LA and San Francisco. The total cost is estimated to be $40 billion. But according to a study by Philip Romero, the dean of economics at Cal State Los Angeles, the net effect of the project would be positive. How positive? The Daily News reports that Romero’s study found the rail project would reduce unemployment appreciably (by 1 to 2 percent) and increase the average yearly income for a family of four by $800. Is it too early in our depression economic downturn to think about a California Works Progress Administration? I don’t think so. But then, I’ve always been a little pink.

(Kevin Dooley’s picture of his O gauge model train used through a Creative Commons license.)

One thought on “The upside of the downturn”

  1. My issue with it is that this needs to be funded on a Federal Level, the rail infrastructure belongs to them. Then again I can’t imagine amtrash moving fast safely so maybe it is better done in house.

    I still can’t figure out what to do with this one. Maybe if I had to travel up north more often I’d see more value in it. The cost of operation will cost us many times over in govt subsidies beyond the bond itself. That is much more of a concern as I’d rather see subsidies go to the schools. I’m selfish that way as my kids are in public schools and I see the damage funding drain from them is causing.

    I wish this was as easy a “oh hell no” as Prop 8 was to decide on. Actually I wish this entire election was that easy this time around.

    Just color me muddlin in the middle

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