Yonah Freemark has a good post about this today on his blog:
http://www.thetransportpolitic.com/2...be-understood/ . Admittedly, there is sticker-shock with the $98B price and there are big questions about the viability with this, given California's budget situation and the Ayn Rand-disciples controlling Congress now.
With that said, however, there needs to be some perspective. As Yonah Freemark notes today, California's cumulative GDP by 2033 is expected to be at least $42
trillion (this is at constant annual GDP and assumes no economic growth). The $74B cost (without inflation) to bulid the high speed rail is a proverbial 'fart in a gale' out of a $42 trillion economy.
Second, Freemark compares the $74B cost with the $13B per year for Caltrans, which over 22 years is $286B. We all know the cost of not building high speed rail is not zero. The CA High Speed Rail Authority estimates the cost for alternative infrastructure to accomodate the state's growth is $170B. I have no idea if this is accurate but widening I-5 alone in San Diego County is estimated to cost between $3.3B and $4.5B (
http://www.signonsandiego.com/news/2...ase-daily-i-5/. The LAX modernization will also cost between $5B - $7B.
I-5 in California was built in 1950s-60s, is still used today, of course, more than fifty years later. Assuming high speed rail is completed in 2033 and has a fifty year lifespan, that is 2080. In 1960, the US had a population of 180M and CA had a population of just under 16M. Today CA has close to 39M people. I don't pretend to be a demographer but California will likely have tens of millions more residents seven decades from now. Similarly, building patterns will be different seven decades from now.