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Florida Governor Rick Scott rejects proposed Federal high-speed rail project

Florida Governor Rick Scott has informed US Transportation Secretary Ray LaHood of the state’s decision to reject President Obama’s Tampa to Orlando high-speed rail project.

The Governor said the decision to reject the project comes down to three main economic realities:

  1. Capital cost overruns from the project could put Florida taxpayers on the hook for an additional $3 billion.

  2. Ridership and revenue projections are historically overly-optimistic and would likely result in ongoing subsidies that state taxpayers would have to incur. (from $300 million – $575 million over 10 years). As a note, Florida subsidizes Tri-Rail $34.6 million a year while passenger revenues covers only $10.4 million of the $64 million annual operating budget.

  3. If the project becomes too costly for taxpayers and is shut down, the state would have to return the $2.4 billion in federal funds to DC.

The truth is that this project would be far too costly to taxpayers and I believe the risk far outweighs the benefits. Historical data shows capital cost overruns are pervasive in 9 out of 10 high speed rail projects and that 2/3 of those projects inflated ridership projections by an average of 65 percent of actual patronage. It is projected that 3.07 million people will use the train annually. Keep in mind that Amtrak’s Acela train in Washington, D.C., Boston, Philadelphia, New York and Baltimore only had 3.2 million riders in 2010. And that market’s population is 8 times the size of the Tampa/Orlando market.

...Rather than investing in a high-risk rail project, we should be focusing on improving our ports, rail and highway infrastructure to be in a position to attract the increased shipping that will result when the Panama Canal is expanded when the free trade agreements with Colombia and Panama are ratified and with the expansion of the economies of Central and South America.

—Governor Scott

Comments

ejj

Correction: "You're Cut Off" is on VH1, not MTV.

ai_vin

Anybody want to know more about Rick Scott?
http://www.youtube.com/watch?v=atysmazNIS4
http://www.youtube.com/watch?v=I3NMJkf07Xc
http://www.youtube.com/watch?v=Kw13x5iNGhc

Rick Scott utilized his 5th Amendment right against self-incrimination 75 times (in a row) in his 2000 healthcare fraud deposition. Questions he plead the 5th to included ones like "Did you ever hold the position of CEO at Columbia/HCA?"

ejj

Rod Blagojevich...Bill Clinton...Charlie Rangel...Maxine Waters...Barney Frank.... need I say more?

kelly

"Reagan, Greenspan, Winniski, and Laffer took the federal budget deficit from under a trillion dollars in 1980 to almost three trillion by 1988, and back then a dollar could buy far more than it buys today. They and George HW Bush ran up more debt in eight years than every president in history, from George Washington to Jimmy Carter, combined."

While Clinton made budget surpluses, Bush II caused even more debt. http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms

The impact of decades of such vast Republican waste, leading to 'global financial meltdown', will be felt for many years to come. Their debt is not something any new President can repair in just a few budgets.

ai_vin

http://www.msnbc.msn.com/id/26315908/ns/msnbc_tv-rachel_maddow_show/#41674668

ai_vin

http://www.msnbc.msn.com/id/26315908/ns/msnbc_tv-rachel_maddow_show/#41674753

ejj

kelly / Alvin - Reagan had a Democrat controlled congress to deal with in order to get anything done...he is lucky he even got his tax cuts through in the early 80's. The only reason he was given a chance was because Jimmy Carter was such a horrible failure. I do agree that GW & and GOP during the GW administration should have been much more responsible than they were, especially with the creation and funding of the new Department of Homeland Security. As for the global financial meltdown, subprime loans & collapse of the real estate market kind of speaks for itself (not "Republican Waste") CNBC's House of Cards is very good at explaining it http://www.cnbc.com/id/28892719

kelly

ejj, Republican waste, DEREGULATION("Letting the bulls loose.."), cutting RICH tax rates by 50%, and multiplying military spending dismantled US manufacturing and created "global financial meltdown."

Interesting how Republican Goldman Sacks (ex?)officers run the Treasury, Federal Reserve, etc. and GS gained the most from their $700 billion bailout.

A bailout Congress and America defeated, but the Decider delivered through back rooms, similar to his "election".

If just to better know your "enemy", watch 'Capitalism: a love affair'. If ANYTHING said wasn't FACT, Moore's movies would be sued bankrupt.

ejj

kelly - your hallucinations are getting old. "Global Financial Meltdown" occurred in 2008. It had nothing to do with Republican waste, nothing to do with tax cuts or military spending. It had everything to do with a hyperactive real estate monster, created by Barney Frank, Chris Countrywide Dodd, Maxine Waters, Chuck Shumer, Frank Raines, and more. Fortunately, no one believes your garbage and the voters are wising up and are better at recognizing your kind of crap than ever before.

What They Said About Fan and Fred
http://online.wsj.com/article/SB122290574391296381.html

kelly

ai vin - I just started checking your Fl. Gov. videos - what a crook.

ejj, you seem part of the Republican machine that murders 100's of medically uninsured Americans daily - besides 100's of starving occupied "terrorists" daily elsewhere.

ejj

Chris Countrywide Dodd, Charlie Rangel, Rod Blagojevich, Maxine Waters, Bill Clinton, Jerry Brown, Barney Frank...such fine ethical people!

kelly, you seem part of the marxist statist Democratic machine that slaughters 1000's of unborn children everyday through abortion on demand, while bashing the final justice for convicted murderers (capital punishment). Yeah, that makes a lot of sense! Ending the lives of those that haven't done anything wrong, and letting the worst criminals in society continue to live!

kelly

No government or party can determine what a bad mother will do to her body or an innocent child.

Concerning Scott and high speed rail, did you actually view some of ai vin's videos from CBS and even PBS?

Scott is a criminal, killing thousands through charging for unprovided medical care and DEFRAUDING the US taxpayer. America found CRIMINAL GUILT, fined his company a record $1.8 BILLION, AND HE WAS FIRED!

Imagine - buying all area hospitals, closing all but one, and then doubling medical charges already twice as expensive as the rest of the world.

THIS is THE/YOUR new Republican standard? WTF happened to the party of Lincoln and Eisenhower?

What 'chads' elected this disgrace to ANY position? Scott can't be trusted for anything but his personal enrichment. He took $300 million in company stocks.

No one can deny that the Reagan/Bushes ran up more debt than two hundred years of prior Presidents - the link figures are from the official federal public accounting records.

It's Republican greed, wars, and ongoing debt interest since Reagan that's destroying America.

We've already seen the results of wars, no-bid contracts, and NOT spending tax dollars on science, regulation, infrastructure, and non-millionaire Americans.

It takes years to turn around a national economy. Republican greed took decades destroying this economy and laws they passed are still in affect.

2008 is the accumulation of 8 years of Bush Republican policy - bank/auto bailouts and global financial meltdown.

Suppose "The Maverick", who rubber-stamped over 90% of Bush policy, had been elected? How many more 2008 "meltdown" years could this country survive?

Obama may have saved this democracy.

ANY President needs support and time to fix such an inherited disaster.

ejj

Your marxist statist Democratic party which advocates the wholesale slaughter of the unborn is disgusting and shameful. Obama and your Democratic party spent a TRILLION dollars on stimulus that hasn't stimulated anything except the national debt and the rate of unemployment in this country which is now at 10 percent ... all you can say is it could've been worse?!? Your Barney, Maxine, and Chis Dodd turned Fannie and Freddie into redistributionist entities forcing them to give loans to people who shouldn't have gotten them, which ultimately wrecked our economy --- and all you can talk about is "Republican Waste"?! Your party would disarm America by taking away guns from good people and assume criminals wouldn't be able to get them...when the reality is guns kill people like spoons made Rosie O'Donnell fat. You and your party continually bash and smear the producers of society with your class envy bull s h i t and perpetuate an ideology based statistics and speculation...and think you have any credibility? You want to take away the incentives for productivity and assume America will be a better place and not turn into a communist utopia? You're really sad kelly. I'm so happy the American people are seeing through you and your party's smears and lies. Hopefully someday the Democratic party will wind up in the dustbin of history.

ai_vin

And ejj has just shown us how a true Republican argues: When the facts of history and reason don't support your position fall back to fear, hate, rhetoric and dogma.

ejj

I totally agree that there has been some Republican waste. Republicans spent like drunken sailors during the GW Bush administration, and GW was complicit in the lack of fiscal discipline by never vetoing any bill (to my knowledge). But the global financial meltdown had nothing to do with GOP spending - it was easy credit and real estate speculation...thanks to Barney Frank, Maxine Waters, and Chris Countrywide Dodd pushing Fannie and Freddie to spread the loans around. And when the Democrats passed "Finreg", it didn't even address failings of Fannie or Freddie!! The facts of history speak for themselves: 10 percent unemployment after trillion dollar stimulus...money poured down a rat hole.

As for Rick Scott, is he a convicted felon? As if Democrats don't have any baggage? Rick Scott did the right thing by keeping Florida off the hook for rail spending especially in this economy and with the failed stimulus. If the stimulus worked, I'd say rail baby rail.

kelly

The Scott CEO $1.8 billion fine is the one beyond misdemeanor.

kelly

If pre-Reagan regulations were still in affect, the "easy credit and real estate speculation.." couldn't have occurred.

ai_vin

More on Walker: It seems he's used fake 'budget emergencies' to break up unions before; http://www.jsonline.com/news/milwaukee/113212479.html

ai_vin

http://www.msnbc.msn.com/id/26315908/ns/msnbc_tv-rachel_maddow_show/#41710135

ejj

Insanity... http://www.youtube.com/watch?v=iW5qKYfqALE

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