When last we visited California’s high speed rail plan, the powers that be had decided to start the line between Corcoran and Borden (combined population: 25,000) at a cost of $4.15 billion with $2.25 billion of federal funds. As I noted at the time:

So, the state’s going to spend $4 billion it doesn’t have in order to get $2.25 billion from the feds that the feds don’t have.

The price back then for the whole project was estimated at $43 billion.

Today the California High Speed Rail Authority came out with this beauty:

The California High Speed Rail Authority released a blunt business plan Tuesday that boosts the estimated cost of building the nation's first high-speed train system, connecting San Francisco and Los Angeles, to $98.1 billion, delays the planned opening by nine years and relies on sharing tracks with commuter trains.

So, it more than doubles in price, takes nine years longer and will share tracks with commuter trains (won’t be so high-speed on those sections will it?).

Board member Michael Rossi, a former financial executive and, with Richard, one of two reformers Gov. Jerry Brown appointed to the authority board, said the new cost estimates incorporated a $16 billion contingency for cost increases, accounted for inflation and took into account operating costs.

"That leads me to believe this is a pretty damn reasonable number," he said.

In what alternate universe is that a reasonable number?

The plan says no state subsidy will be needed.

If that turns out to be true I’ll ride the top of the thing from LA to SF.