Riding the Rails to Insolvency at High Speed
This column by ACRU Senior Fellow Robert Knight was published March 7, 2014 on The Washington Times website.
The Federal Transit Administration (FTA) says in a new report that the light-rail “Purple Line” expanding Washington, D.C.’s rail system further into the Maryland suburbs will cost $1 billion more than originally estimated.
Well, of course it will. Only suckers believe in initial estimates on any government project.
Remember the Big Dig? The Central Artery/Tunnel Project in Boston, on which construction began in 1991, was supposed to be completed in 1998 at a cost of $2.6 billion.
The price tag ballooned to a shocking $15 […]

