KT provides a nice comparison of what 3 countries are doing to combat the global credit crunch and economic downturn. One is investing in a proven commodity that people around the world and within their own country will need for the foreseeable future and which will be the primary driver for their expanding economy. The second country is looking to that aforementioned country as a source of capital in order to expand the production of that commodity and the third country…. well, the third country is going to make it easier and quicker for bachelor and bachelorette parties to part with their money in Las Vegas.
Though not specifically mentioned in the bill, the bill does provide $8 billion for unspecified high-speed and intercity passenger rail projects, more than three times as much as allocated in earlier versions of the legislation.
In a town that loves to connect the dots, the funding increase raised suspicions that Senate Majority Leader Harry Reid (D-Nev.), who played a key role in writing the bill, pushed for it in order to promote home-state interests, namely the Anaheim-to-Las Vegas project.
A Reid spokesman said the money was not being earmarked for any specific project but would be available on a competitive basis. "This was a major priority for President Obama, and Sen. Reid as a conferee supported it," said Jon Summers.
So, if there are allegedly no earmarks in porkulus, care to venture just what exactly “competitive” infers given the context?
Funny thing is, we’ve heard for years about this high-speed rail line between Southern California and Las Vegas. A lot of talk and no action. Why? Well, the project’s boosters themselves provide the answer: speed. The mag-lev train will breeze along at 300 mph and make the trip between Anaheim and Las Vegas in 86 minutes. Wow. That’s fast but still not as fast as a 45 minute plane ride from John Wayne to Vegas.
Vegas has managed to explode in growth despite the absence of any high-speed rail between itself and SoCal. Simply put: No demand.
(And somewhere “Pops” is saying, “Anaheim, Azusa, Ran-cho Cuc-a-monga”. H/T: Spike Jones)