It started out benign enough. In November 2008, California voters passed Proposition 1A, which authorized the issuance of $9.95 billion in general obligation bonds to fund the first stage of a high-speed rail link between Los Angeles and San Francisco, with extensions to San Diego and Sacramento. The project would cost $35.7 billion. The federal government would pick up a chunk. And it would be profitable.
High-speed rail works if it links big urban areas, has lots of riders, and
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