On a dusty, rock-strewn expanse at the edge of the Mojave Desert, a company linked to Senate Majority Leader Harry Reid wants to build a bullet train that would rocket tourists from the middle of nowhere to the gambling palaces of Las Vegas.
Privately held DesertXpress is on the verge of landing a $4.9 billion loan from the Obama administration to build the 150 mph train, which could be a lifeline for a region devastated by the housing crash or a crap shoot for taxpayers weary of Washington spending.
The vast park-and-ride project hinges on the untested idea that car-loving Californians will drive about 100 miles from the Los Angeles area, pull off busy Interstate 15 and board a train for the final leg to the famous Strip.
Click here for the complete article. My question is: "if this is such a good idea, why cannot the funds be raised through the private sector - why does the taxpayer have to be responsible for the loan guarantee". It's a rhetorical question in that private investors have to be convinced the plan will work and make money and DesertXpress probably cannot do that. And of course, there would be no special interest groups involved that would reward the politicians for their favor. Look at what happened to the taxpayer's money that was invested in the now bankrupt Solyndra.
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