Whoa! It seems that President Bush has finally folded under a two-party assault. Major loss of points here. He has authorized a whopping $13 billion subsidy for Amtrak, in order to step up the maintenence and repair of existing rail infrastructure for Amtrak.
I am sure other industries would like to enjoy that kind of treatment. The taxpayers will be pouring $2.5 billion each year over a five year period to keep Amtrak rolling. Amtrak was one of the jumbo rail organizations (along with Conrail) that sprung up in the 1970's after the complete financial collapse of the nation's railroads along the northeastern seaboard. Conrail was said to be one of the few government managed units that actually made a profit. I believe the Postal service is the other entity that stays in the black.
Conrail was divested by the government in a much more understandable fashion. Instead of pumping it full of money, the government sold the Conrail system to two commercial concerns; CSX and Norfolk Southern.
Amtrak, for some reason, has not been sold off and continues to suckle on the taxpayer teat. The government should get out of the railroad business, and let Amtrak be taken over by one of the existing rail carriers.
After the ridiculous $700 billion financial bailout of the mis-managed financial sector, now we are ready to send an additional $13 billion to Amtrak. Our continued support of such losers makes no sense.
Shame on you George W.
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