California high-speed rail is five years late, three times over budget, and nowhere close to being finished.
All the way back in 2008, voters approved a $10 billion bond package for the project, which promised to build 800 miles of rail that could deliver passengers from San Francisco to Los Angeles (about 400 miles) in two hours and 40 minutes. The line was scheduled for completion in 2020 at a total capital cost of about $33 billion.
That was five years ago. At this point, about 170 miles of railway are under construction in California’s Central Valley, while the total estimated cost has ballooned to $128 billion…