Just before the pandemic, Amtrak proudly announced that it lost only $29.5 million operating passenger trains in 2019 and expected to make an operating profit in 2020. Of course, that didn’t happen thanks to the pandemic, and what’s more, it was lying about losing only $29.5 million; its actual losses were closer to $1.4 billion, a mere 46 times more than it claimed.
Amtrak spent $2.5 billion on new trainsets for its high-speed Acela. These were supposed to go into service in 2021 but are now expected to begin service no sooner than 2023. Photo by Fan Railer.
Now that Congress has flooded Amtrak with money in the infrastructure bill, however, the agency no longer even cares about whether its passenger trains come close to covering their costs. Like any good soviet agency, it recently released its five-year plan, and it projects it will lose more than a billion dollars a year for almost every year in the future. Continue reading
