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Bad Economy Clobbers High-Speed Rail

Two big high-speed rail projects have fallen victim to the lousy state of the world economy. The latest U.S. budget removes funding for high-speed rail projects, most notably the nation’s largest in California, and the Portuguese government just announced it was canceling work on its portion of the cross-border Lisbon–Madrid link. Political maneuvering may well restore at least some of this funding, but the outlook isn’t good. Proponents hope that the halt is temporary; opponents hope that the projects die forever. Whatever the politics, don’t start standing in line for a ticket just yet.

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