Reason Foundation

Reason Foundation

Seattle Monorail Veers Off Track

Leonard Gilroy
July 1, 2005, 2:31pm

The financing plan for troubled Seattle Monorail project has now been scrapped, in part due to the shocking revelation that the $2.1 billion system will actually cost upwards of $11 billion when interest payments are included. According to the Seattle Post-Intelligencer: More on this story here and here. You know you're in a tight spot when even your friends have to administer some tough love: And from the Seattle Weekly: The Seattle Times pulls no punches today: But don't underestimate the ability of the Monorail Authority to whistle past the graveyard: Rigghhhhht.....why focus on that pesky $9 billion in future interest payments when we'll create (fingers crossed) 2,100 jobs!

Leonard Gilroy is Director of Government Reform

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