Economy

The Nation’s First High-Speed Rail Line

Good news -- someone is moving forward in this country even if our Tea Party overlords in congress and Republican state legislatures say otherwise.

California lawmakers have approved billions of dollars in construction financing for the first segment of what would be the nation's first dedicated high-speed rail line, eventually connecting Los Angeles and San Francisco. [...]

The bill authorizes the state to begin selling $2.6 billion in voter-approved bonds to build an initial 130-miles stretch in the Central Valley. That would allow the state to collect about $3.2 billion in federal funding that could have been rescinded if lawmakers failed to act Friday.

Critics call the bullet train a boondoggle, but supporters hailed the vote as the start of a much-needed infrastructure project. The bill also includes about $1.9 billion in funds for local rail projects.

The bill will inject roughly $7.7 billion of spending into the California economy, which is what Republicans refer to as a "boondoggle." You know, because economic growth is bad and we hate infrastructure. Giving people jobs is bad too, I guess. Boo jobs!

Democrats will drag you kicking and screaming to a better economy whether you like it or not.