Obama's next investment: Sort-of high speed rail

Not so fast there

"That's why I’ve proposed that we freeze annual domestic spending for the next five years." President Obama to the US Chamber of Commerce, Februry 7, 2011.

But in that same speech, President Obama called for more "investment," including spending on what he is calling high-speed rail. Today we know how much investment he wants on those trains, which AP says will achieve speeds of up to 250 miles per hour--$53 billion. But Randal O'Toole of the Cato Institute discovered that these trains won't even go faster than cars.

Does the White House say where the $53 billion will come from? Of course not.

Technorati tags: economy stimulus hsr transportation high speed rail trains politicsstimulus government boondoggle