(September 26, 2008) Newspapers statewide have been recommending voters reject Proposition 1A, the High Speed Passenger Train Bond Act destined for the November ballot and also opposed by the California Chamber of Commerce.

Here is a sampling of what California newspapers have been saying:

“Proposition 1A on the November ballot would authorize the issuance of $9.95 billion in general obligation bonds as a small down payment for a high-speed passenger train between Los Angeles and San Francisco. To call this project a boondoggle would be an understatement. At a time when California state government is operating at a substantial deficit – despite the Band-Aids recently applied that may or may not reduce it much – it would be irresponsible to take on a debt of this magnitude, especially given that the total cost of the train would be many tens of billions of dollars more.” — Orange County Register, September 23, 2008

“Against this backdrop of massive fiscal chaos and uncertainty, it is hard to fathom how state voters could consider a Yes vote on Proposition 1A, which would issue $9.95 billion in bonds as part of a $40 billion-plus project to build high-speed trains linking Northern and Southern California. Even without adding nearly $10 billion to the load, the state is already on track to pay a record 6.1 percent of total state revenue in 2011-12 just to service its bond debt. Even without new borrowing, by 2017-18, annual bond debt-service payments alone are forecast to top $9 billion. Because California has the worst credit rating of any state, paying off this debt is particularly expensive. Obviously, adding lots of new debt doesn't make much sense. ” — San Diego Union-Tribune, September 21, 2008

“California has many far more pressing needs. The state faces a huge budget shortfall, a weakening economy, a home foreclosure mess, a drought and the need to expand its reservoir system and repair levees…Instead of addressing our real transportation needs, Prop. 1A is asking taxpayers to spend the first of tens of billions of dollars on what amounts to a Boondoggle Express rail system that won't be built for many years if not decades.” — Oakland Tribune, September 12, 2008

The following newspapers and blogs have opposed Proposition 1A:

• Orange County Register 09/23/2008
• San Diego Union-Tribune, 9/21/2008
• The Eureka Reporter 09/21/2008 
• Flash Report 09/19/2008 
• Fox and Hounds Daily 09/18/2008 
• Orange County Register 09/18/2008 
• Oakland Tribune/ Inside Bay Area 09/12/2008 
• The Sacramento Bee 09/08/2008 
• Tracy Press 09/05/2008
  

The CalChamber Board of Directors voted at its September 5 quarterly meeting to oppose Proposition 1A.

“There are many competing demands for resources in our state and we must carefully set our funding priorities,” said CalChamber President and Chief Executive Officer Allan Zaremberg. “Although a comprehensive water bond will not appear on the November 2008 ballot, we must reserve future debt capacity to address one of the state’s most critical needs. The positions taken by our Board on November ballot measures reflect that priority.”

“California will need to invest at least $50 billion to complete a statewide high speed rail system," Zaremberg said. "There are other projects that mitigate congestion that should be a higher priority.” 

For more information on the CalChamber’s positions on the November ballot measures, visit www.calchamber.com.