Re: Hudson River Rail Tunnel
Please consider the following when making your decision on the new rail tunnel:
1. New Jersey is broke and will have to borrow the money.
2. The Port Authority will have to increase its tolls and fees on the tax payers.
3. The Federal government is broke and will have to borrow the money.
4. Amtrak, which will be the main user of the tunnel is broke, and will have to borrow the money from the Federal government. (see #3)
Has China given the interest rate they are going to charge for lending us all this money? Do we know the re-payment schedule? When are we going to be told about this huge cost?
The politicians in Boston told us originally that their tunnel and improvements “The Big Dig” would cost $2.8 billion; the latest figure is 5 times that - $14.6 billion. Our politicians are estimating the cost at $8.7 billion and NJ taxpayers will be responsible for any cost over-runs. I’m afraid we will end up calling our tunnel “The Pig Dig” by the time all the over-runs and interest get added in.
New York City, with its high taxes and bureaucratic red tape, is no longer a new job creating city. We not only can’t afford the tunnel, we don’t need it.
Fair Haven, NJ