Tag Archives: Proposition 1A

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.)