The Dream and Reality of High-Speed Rail across California

When voters passed $10 billion in bonds to jump-start a San Diego-San Francisco high-speed rail, promoters claimed it would haul 50 million people a year and generate a $1.1 billion surplus. But putting together a business plan hasn’t been easy. Projections of money and ridership have been reduced, but the latest plan doesn’t adequately consider the risk that even scaled-down predictions might be wrong, according to the California Legislative Analyst’s Office.