Former White House economist: All Aboard Florida doomed to financial failure


CARE FL is a coalition created by a group of concerned community leaders, organizations and neighbors in South Florida and the Treasure Coast that oppose the currently proposed rail expansion. (Source: CARE FL)

From heraldonline.com: All Aboard Florida (AAF) will likely generate losses of $100 million annually, according to a new economic analysis by a former White House economist. The report, which was commissioned by Citizens Against Rail Expansion in Florida (CARE FL), a coalition of concerned community leaders, organizations and neighbors in the Treasure Coast and South Florida regions, only raises more questions about the rail project.

The report, conducted by John Friedman, Associate Professor of Economics, International Affairs and Public Policy at Brown University, further concluded that AAF would have to charge $242 for a one-way train ticket between Miami and Orlando to service its debt load.

For the complete story: http://www.heraldonline.com/2015/02/18/6810323_former-white-house-economist-all.html?rh=1

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