From Washington Examiner, by Michael Barone, 03/30, 2013 –
Forty years ago, American railroads were in trouble. The Penn Central, the largest railroad, had recently gone bankrupt.
American freight rail was technologically obsolescent and hamstrung by union rules and government rate regulation. American passenger rail was unprofitable and unreliable.
Freight rail was losing business to trucking firms. Passenger rail was losing out to cars on the new interstate highways and airplanes on long routes.
From The Daily Caller, by Nicholas Ballasy, 03/12/13 – WASHINGTON – Making a case for high-speed rail in America, Secretary of Transportation Ray LaHood said Americans want to “get off the 95 corridor,” “get out of their cars” and use a more “convenient” form of transportation.
“Ridership is at an all-time high on Amtrak on the northeast corridor. Amtrak is making money on the northeast corridor. Why? Because the people are ahead of the politicians on this,” LaHood told the American Public Transportation Association’s legislative conference on Monday.
We’re in deep trouble.
You know why. Our debt has passed $14 trillion, and yet our current spending plans will make that worse. The U.S. debt will reach Greek levels in just 10 years.
But do not despair. If we make reasonable cuts to what government spends, our economy can grow us out of our debt. Cutting doesn’t just make economic sense, it is also the moral thing to do. Henry David Thoreau had it right when he “accepted(ed) the motto … that government is best which governs least.”
So what should we get rid of? Continue reading →