Friday, March 15, 2013

Lawmakers Question $5.5 Billion Loan for Vegas Train is conntrolling spending? March 14, 2013 by Cowboy Byte.

Lawmakers question $5.5B loan for Vegas train is controlling spending?

While the Transportation Department warns that the sequester will lead to cutbacks causing snarled lines at airports across America, the agency is still considering a massive $5.5 billion government gamble on a high-speed train from suburban California to Vegas.
The total cost of the XpressWest project is $6.9 billion, with 80 percent potentially being fronted by the federal government. It would create a train that runs from Victorville, Calif., to Las Vegas and, if green-lighted, would be the largest loan of its type issued in America.But there are severe roadblocks, which skeptical lawmakers are once again drawing attention to at a time when the government is supposed to be looking for savings.
“We are deeply troubled by the prospects of subsidizing another costly, wasteful and risky high-speed rail project, particularly when our nation is facing a debt crisis that threatens the well-being of the current and future generations of Americans,” Sen. Jeff Sessions, R-Ala., and House Budget Committee Chairman Rep. Paul Ryan, R-Wis., wrote in a letter to Transportation Secretary Ray LaHood on March 6.
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BS Ranch Perspective:

The way that I look at it, is that I cannot believe that the Federal Government is still considering a High Speed Train to Sin City from Los Angeles... The only people that I can see trying to get this passed is those that own or run a Casino in Las Vegas!! Other then that why would we need this train??  After all ifyuou want to Gamble in Southern California all you have to do is go to almost any Indian Reservation and gamble away!! The benefit is much better since the money that is taken by the Indian Reservation is used to better their own people.. the People in Las Vegas better just keep working on advertising for LA. Customers and stop the milking of government for things that is not needed!!


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