No doubt
Paul Krugman is melting down right about now. But let's give credit where it's due. Chris Christie isn't about to saddle his constituents
with billions in debt just because the federal government has made a habit of it.
The Hudson River train tunnel, a dream of many New Jersey commuters, politicians and planners for decades, will die a second death today.
And this time, there will be no reprieve.
Gov. Chris Christie today is expected to again terminate the multi-billion dollar project, arguing that New Jersey cannot afford it and that the federal government is unwilling to increase its share of the costs, four officials close to the project said.
The governor canceled the project Oct. 7, but gave it a two-week grace period after U.S. Transportation Secretary Ray LaHood visited Trenton the next day to ask for more time to offer alternatives. That deadline expired Friday, but Christie has pondered the decision an additional five days.
As he walked into an event in Indianapolis last night, Christie said, "I’ll make this decision when I believe is the right time to make it. The decision I make will be in the best interest of the taxpayers of the state."
The project, which was to double rail capacity between New Jersey and New York City, was America’s largest public works initiative.
The project, which was to double rail capacity between New Jersey and New York City, was America’s largest public works initiative.
Tunnel proponents have accused the governor of scrapping a plan vital to New Jersey’s economic future. They also say that all along, he has planned to use some of New Jersey’s $2.7 billion share of the project to buttress the state’s nearly broke Transportation Trust Fund, which pays for road and bridge repairs and transit services.
Tunnel opponents have said the project lacked connectivity to New York Penn Station and the jobs on Manhattan’s prosperous East Side.
When he canceled the project in early October, Christie said he feared there would be major overruns. Officials said those fears have not changed.
Nobody seems to have answered a simple question: If this was America's largest public works initiative, how come if we've already spent over $800 billion on the Obama stimulus scam, why wasn't this simply paid for in its entirety out of that money?
One-hundredth of the stimulus money would have paid for the entire project if we're to believe cost estimates.
When he canceled the project in early October, Christie said he feared there would be major overruns. Officials said those fears have not changed.
The overruns could range anywhere from $1.1 billion to $5.3 billion, depending on who is giving the estimate.
In addition to committing $2.7 billion toward the project when it was expected to come in at $8.7 billion, New Jersey is responsible for all overruns. The federal government and Port Authority of New York and New Jersey each pledged $3 billion for the 9-mile tunnel that was to run between Secaucus and West 34th Street in Manhattan.
"It’s all about the money," Christie said during an appearance in Philadelphia last week.
Indeed, it is. And we in New Jersey simply don't have it. Even Obama's Transportation Secretary admitted the final cost would have been
at least $12.7 billion. Factor in government incompetence and we're talking probably $20 billion by the time it's done. If this project is so important, let the federal government pay for the whole thing and New Jersey taxpayers alone.
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