Socialists “always run out of other people’s money,” said Margaret Thatcher. “It’s quite a characteristic of them.” Some of the best examples can be found in the field of passenger rail transportation.
California’s plan to pay for high-speed rail with revenues from sales of greenhouse gas cap & trade permits has hit a speed bump. The first sale, which was expected to bring in $150 million, only brought in $10 million. At that rate, it will be centuries, instead of the planned decades, before the line is built.
When Atlanta opened its streetcar line, it offered the service for free for a year. As soon as it began charging a dollar a ride, ridership dropped by nearly 50 percent. Now the state of Georgia is threatening to shut the line down because of inept management resulting from a lack of funds.
