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  The promoters of high speed rail put the best spin on their numbers.  I would not bet the farm that the projects will cover their operating costs.  I would like to see an independent audit of the projections, i.e. an audit conducted by one of the big four accounting firms, with the fees paid by an independent agency. One of the promoters of the California High Speed Rail claims that a ticket from LAX to SFO will go for $55.  Really!  Amtrak cannot cover its total NEC costs with Acela fares of $155 between Washington and New York.  And its investment is less than 25 per cent of the announced investment in the California HSR project.  I would love to see the audited numbers for the California projections. Having spent more than 20 years directing audits of just these sorts of projects, I am amply familiar with how people spin the numbers, most of which are based on estimates, to make their project sound viable.
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