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An annual operating deficit of $7.5 million at an average borrowing rate for municipal bonds of 4.75 per cent morphs to $500.1 million over 30 years.  If Wisconsin is on the hook for 10 per cent of the annual operating deficit, its payments would be a minimum of approximately $50.1 million over the same period. I have not adjusted the annual payments for inflation, etc., because I don't have sufficient data to do so.  It is probably fair to say that the annual operating costs will increase due to a multiplicity of factors and, thus, render my estimates conservative. The estimated operating deficit of $7.5 million may be conservative.  The annual operating deficit for the 32 mile Leander to Austin commuter rail line is approximately $9.5 million.   The key investment question, therefore, is whether the tax revenues generated by the construction jobs and the operating jobs will offset the operating deficits.  Without knowing the compensation packages for either group, it is difficult to say.  But it would take a lot of tax payments (income, sales, property, etc.) by those in the aforementioned jobs to cover the estimated costs.   In addition to the operating costs, the project presumably would incur significant capital costs, which would be a burden on the taxpayers and would have to be depreciated over the life of the assets. Maybe Governor Walker is looking beyond the borders of Wisconsin.  Maybe he sees a tax liability for taxpayers across the board that he cannot justify.
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