Posted by Spending-Chinese-Money-Lowers-SAMTRANS-Costs, a resident of Another Palo Alto neighborhood, on Jan 22, 2013 at 11:39 am
> The hybrid bus purchase is being financed with a $4.9 million
> American Recovery and Reinvestment Act grant. In order to
> keep costs lower,
No .. the costs for these vehicles is not lower because Federal money, half of which is borrowed from the Chinese and must be repaid with interest--it simply reduces the cash outlays from SAMTRANS. This is another cost-shifting trick that forces the American taxpayer to pick up the tab for subsidizing public transportation and its clients.
Dependig on the interest, the total cost of the busses will now be more than that cited in the article. This is how America is going backrupt--one transaction at a time, endorsed by a media that does not understand how finance works.
Posted by Anon, a member of the Walter Hays School community, on Jan 22, 2013 at 3:41 pm
This reminds me of a movie called "Idiocracy", in which intelligent, highly educated people are too busy to have children. This leaves only undereducated, underemployed people to reproduce, and so the nation gets dumber and dumber and dumber until it becomes a country run by idiots.