Obama Calling For $53B For High Speed Rail

Antisyzygy writes "President Obama is calling for $53B to be appropriated for the construction of high-speed rail in the United States over the next 6 years. Assuming Congress approves this plan, the funding would be spent on developing and/or improving trains that travel at approximately 250 miles/hour, as well as spent on connecting existing rail lines to new developed high speed lines."

Comments

Re:Its not the speed that is the problem.

[rsclient]

One simple way to tell if we've "spent all the money": do really, really rich people still feel comfortable lending us money for long periods at low interest rates? 'Cause those people aren't dumb, and they'd sell their own grandparent to make more. ....survey says.... we just sold $24 billion of 10-year notes at 3.66%. I'd say that everyone who is rich disagrees with you.

And lastly: basic economic data is that when countries are in a recession, they should increase government spending (especially on infrastructure like rails). Countries that cut spending then tend to fall further into recession.