Author Topic: Obama spends $600 million on rail projects that benefit private companies  (Read 463 times)

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Offline mystery-ak

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http://www.mcclatchydc.com/2013/12/02/210101/obama-spends-600-million-on-rail.html

Obama spends $600 million on rail projects that benefit private companies

By Curtis Tate

McClatchy Washington BureauDecember 2, 2013

 WASHINGTON — The railroad industry brags in its national publicity campaign that it spends billions of dollars improving its infrastructure “so taxpayers don’t have to.”

But the ads don’t tell everything. The nation’s freight rail network has been the quiet recipient of more than $600 million in federal investment during the Obama administration.

According to Federal Railroad Administration numbers, at least half that amount has gone to projects that benefit the nation’s four largest railroads, the same companies at the heart of the industry’s ubiquitous “Freight Rail Works” campaign.

continued

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Offline flowers

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Re: Obama spends $600 million on rail projects that benefit private companies
« Reply #1 on: December 02, 2013, 01:08:00 PM »
What is the name of the railroad Buffet owns?


Offline SouthTexas

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Re: Obama spends $600 million on rail projects that benefit private companies
« Reply #2 on: December 02, 2013, 03:17:11 PM »
What is the name of the railroad Buffet owns?

Burlington Northern Santa Fe LLC, not Buffett’s but Berkshire Hathaway

Offline Oceander

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Re: Obama spends $600 million on rail projects that benefit private companies
« Reply #3 on: December 02, 2013, 03:18:41 PM »
What else would one expect when crony capitalism prevails?

Offline flowers

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Re: Obama spends $600 million on rail projects that benefit private companies
« Reply #4 on: December 02, 2013, 03:35:48 PM »
Burlington Northern Santa Fe LLC, not Buffett’s but Berkshire Hathaway
Thanks for info


Offline Fishrrman

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Re: Obama spends $600 million on rail projects that benefit private companies
« Reply #5 on: December 02, 2013, 10:31:36 PM »


There's nothing new about this.

The government has been providing aid to the freight railroads for major construction projects for decades. Just as it provides funds for road construction, etc.

At least infrastructure improvements for the freight rail system will yield increased revenue and profit. As contrasted from would-be billions wasted on "high-speed" passenger rail projects that would be money-losers from the outset.

Offline rangerrebew

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Re: Obama spends $600 million on rail projects that benefit private companies
« Reply #6 on: December 03, 2013, 07:52:35 AM »
At least infrastructure improvements for the freight rail system will yield increased revenue and profit. As contrasted from would-be billions wasted on "high-speed" passenger rail projects that would be money-losers from the outset.

Then it is surprising the money hasn't gone to the rail money losers like losers of the green energy field.  There is hope, though.  There is still some talk about high speed rail service in Detroit; from precinct to jail I would assume.
« Last Edit: December 03, 2013, 07:54:13 AM by rangerrebew »
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