VTA BART Silicon Valley Phase II project awaits federal funds
Вставка
- Опубліковано 8 жов 2024
- In the South Bay, there is growing concern over phase two of VTA's BART Silicon Valley project as it awaits critical federal funding. abc7ne.ws/3RHwwaO
#bart #vta #publictransportation #siliconvalley #abc7news
I always want BART Silicon Valley to Santa Clara, CA and I always love BART Silicon Valley to Santa Clara, CA.😮
Yes and yeah of course BART Silicon Valley to Santa Clara, CA.😮
More public transportation, less cars, more money for the people to not waste on car ownership and less money the state will spend on repaving streets. Less people in cars, more people on their feet, less health issues.
Yeah it's confirmed. You live in a bubble. I take public transportation daily. I rather deal with traffic. But I will instead get a car and leave the state so I don't have to deal with this ill-managed state. How high the taxes are and the price of everything? Everything should be pristine. And you think it's cause they need more public transportation. That is wild.
What are you talking about? Biden just beat Medicare. There are no more health issues
Yes 100%😮
If only Santa Clara and San Mateo Counties had had the foresight to join BART when it was first organized, these lines would have long existed, built for a fraction of what they will now cost.
How much more can you spend and not account for?
The Santa Clara Valley Transportation Authority will receive $5.1 billion in funding from the federal government for its South Bay BART extension project.
Question: Where did the Federal Government get $5.1 billion dollars to fund this project. The Federal Government is broke. So - they borrowed the $5.1 billion dollars and added on to the National Debt - which has accumulated to $35 trillion dollars. Presently the National Debt is increasing at $1 trillion every 100 days.
Congress ( really taxpayers) only pays the interest on the National Debt - they do not pay for the borrowed money. How can that work?
Congress tells the Treasury Dept:, I am broke. Find me $5.1 billion dollars. The Treasury has an auction and does all the paperwork and lines up the lenders to provide them with $5.1 billion dollars. The Treasury will pay 5% annual interest on the $5.1 billion loan for 30 years and return the principal ($5.1 billion) on the last day.
30 years go by and it is the last day of the contract. Congress needs $5.1 billion to meet the final payment. Problem: Congress does not have $5.1 billion to pay the lenders. Congress does not have a “rainy day” fund to pay off borrowed money. So the Treasury conducts auction (number two) to raise $5.1 billion, but this time the lenders want 6% interest. Both lenders and the Treasury agree.
Same rules as before except the interest rate is now 6% vice 5%. The Treasury receives the $5.1 billion and pays off $5.1 billion from the original loan. The Treasury will still need to pay $5.1 billion at the end of the next 30 year period. Congress only pays the yearly interest on the loan for 30 years without repaying the principal.
Bottom line: Congress never pays off the original loan. Congress only pays the interest on the loan. Congress basically uses an “interest only” credit card every time they borrow money. The original $5.1 billion loan is never paid off and is just added to the National Debt, which grows larger every year. The only time the US was completely debt-free was in January 1835, during the presidency of Andrew Jackson. Because of all the loans not paid off, America has now accumulated a National Debt of $35 trillion dollars. It is now increasing at a rate of one trillion every 100 days.
So what will the American taxpayers end up paying in the next 60 years for the South Bay BART extension project? Let’s figure it out.
YEARS 1-30.
$5.1 billion times 5% per year = $255 million dollars per year for interest payments
$255 million times 30 years = $7.65 billion dollars for 30 years of interest
30 years later on the last day of the loan: taxpayers owe $5.1 billion dollars, to pay back the principal borrowed. Congress (means taxpayers) borrow another $5.1 billion to pay off the original loan. This time Congress ( means taxpayers) are charged 6% per year.
YEARS 31-60.
$5.1 billion times 6% per year = $306 million dollars per year for interest payments
$306 million times 30 years = 9.18 billion dollars
Total 60 year cost = $16.83 billion dollars plus the $5.1 billion loan due on the last day for the second loan. How do you think Congress will pay off the $5.1 billion due on the second loan?
Bay Area will be fully connected like NYC is. This is amazing! Going to be amazing for the culture and wealth of the Bay. Probably going to be some of the best public transportation/walkable metro in the world.
BART is merely a purse snatcher's mode of transportation.
@@genuineappeal3458 For now. But once you dont NEED a car to get everywhere in the Bay (like NYC) then EVERYONE will ride the public transportation
I’m so happy that despite the absurd taxes in California, as someone who ISN’T EVEN IN YOUR STATE y’all found a way to get into mine and everyone else’s pockets! Well done! The grifts continue!
We pay for your bridge and highways too. For every dollar cali gives to the fed, we get 92 cents back.
Mmm a very grifty state!
@@heyaisdabombAnd it goes right back into the politcian's pocket. Have you seen Californias debt?
California has the highest gdp of any state 35/40% of the country n pays wayyy more in federal taxes than any other state contributes …u should do your research before commenting you sound very ignorant
@@Dukers2300we’re 40% of this countries gdp …so we’re actually funding the country 😂 why are ppl so jealous of California get a clue bucko
They should hire China
50 years over due! how about stop funding the tail to nowhere and fund this but it will never make money
What a waste...i hardly see anyone taking BART from Milpitas..
Yeah that’s because the extension to downtown isn’t here yet…
@@duploman0003 , at 6 billion dollars, nah..
@@RacerX1971 I’m not happy with the cost either, but if we get it finished now it’ll at least be a completed system to downtown, making it useful. Now it’s just in the middle of nowhere.
@@duploman0003 , nah, some say it will more than likely be 9 billion when they finish. My property tax is already way too expensive..
Took one year to build the empire state building how long will this take
2040 they say