California high speed rail cost revised upward again-LA Times

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3/7/12, "Borrowing costs for bullet train revised upward," LA Times, Ralph Vartabedian and Dan Weikel

"California's distressed state budget will have to allot more than $700 million each year to repay billions of dollars that officials plan to borrow to build the first phase of a proposed bullet train, a nonpartisan government research office has found.

The repayment projection by the state legislative analyst's office includes principal and interest on $9.95 billion in high-speed rail bonds approved by voters in 2008. The figure is higher than in the past — partly because of higher borrowing rates — and does not count millions of dollars already being paid annually on about $500 million in debt incurred to plan the system."...via Lucianne.com

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