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Well, who said bullet trains were cheap. As to the cost/benefit analysis, it was done and determined that the benefits outweighed the cost. Whether overruns nullify that, I don't know.
I do know every major economy on the planet has high speed trains. If Japan and France can build them, so can we.
Right, and the original idea was for there to be private venture capital along with state and federal money. Guess what? No one, but nobody, is willing to put up venture capital. The cost estimates have soared to nearly a hundred billion, and the contractor has a history of cost overruns.