Wednesday, February 9, 2011
High-Speed Rail System
The Obama administration wants to invest $53 billion in high-speed and intercity rail service in the next six years.The current administration believes this plan to spend billions on a vast high-speed-rail network is important to keep the United States competitive with world markets that already use the technology. I wonder how this rail system would impact the automotive industry. I am sure that it would hurt car sales as many people might be able to eliminate owning a car. It may also affect concrete and steel businesses and other manufacturers of materials used to build roads. I wonder about the affect it would have on the businesses alongside the roads that are used to being busy because of the daily traffic driving by. I think that our national debt is also too high to even consider spending that much money on something that may potentially bankrupt the auto makers. The estimated cost for this system would be $600 billion over the next 20 years. Where would money come from to improve and maintain our existing roads? Or would they become a low priority in comparison to spending money on the high- speed rail system? Maybe it would be a better idea to let private industry invest in this project. Amtrack has been successful in the public transportation industry. Maybe they should be doing this project instead of the government.