Thursday, June 04, 2009


Almost to the day that the President came out strongly for "truth-telling", his Secretary of Transportation launched this, which falls far short of the goal. (HT John Niles).

Take this howler:

In fact, each 1% of regional travel shifted from automobile to public transit increases regional income about $2.9 million, resulting in 226 additional regional jobs. Other economic benefits include increased productivity, employment, business activity, investment and redevelopment.

The Secretary is talking about an industry that serves many fewer riders now than it did before hundreds of billions of dollars of public subsidies were sent it's way. That's a decline in the absolute number of passenger miles in spite of population growth and huge subsidies.

It's negative NPV all the way.