Today, President Obama called for a $53 billion government ‘investment’ in high-speed rail over the next six years. This new government spending is being sold to the American taxpayer as a means for saving energy and reducing traffic congestion. It will do neither; in fact, high-speed rail will likely exacerbate transportation problems. Cato and Heritage have both provided research on the folly of high-speed rail, but Reason produced a short video that explains the extent of the high-speed rail boondoggle.
I hope economic realities set in before the tracks.