While the Transportation Department warns that the sequester will lead to cutbacks causing snarled lines at airports across America, the agency is still considering a massive $5.5 billion government gamble on a high-speed train from suburban California to Vegas.
The total cost of the XpressWest project is $6.9 billion, with 80 percent potentially being fronted by the federal government. It would create a train that runs from Victorville, Calif., to Las Vegas and, if green-lighted, would be the largest loan of its type issued in America.
But there are severe roadblocks, which skeptical lawmakers are once again drawing attention to at a time when the government is supposed to be looking for savings.
“We are deeply troubled by the prospects of subsidizing another costly, wasteful and risky high-speed rail project, particularly when our nation is facing a debt crisis that threatens the well-being of the current and future generations of Americans,” Sen. Jeff Sessions, R-Ala., and House Budget Committee Chairman Rep. Paul Ryan, R-Wis., wrote in a letter to Transportation Secretary Ray LaHood on March 6.
Read more: http://www.foxnews.com/politics/2013/03/13/lawmakers-question-risky-55b-loan-for-high-speed-vegas-train-amid-sequester/#ixzz2NTMZgVK1