Chris Christie Stops Dumping Money Into A Giant Hole

Conn Carroll / October 27, 2010

New Jersey Gov. Chris Christie (R) announced today that he is standing by his decision to cancel the under-construction ARC (Access to the Regional Core) rail tunnel under the Hudson River from New Jersey to New York. According to the AP, Christie was given four financial options for salvaging the project, but said no agreement could guarantee that New Jersey taxpayers would not pay more than $2.7 billion for the completed project.

Earlier this month when Christie first voiced concern for the project, Wendell Cox defended his decision at Newgeography.com:

1. Exaggerating the Need for the Project The new rail tunnel is to serve a purported increase in commuter rail ridership to Manhattan jobs in the future. The project’s Final Environmental Impact Statement says that Midtown Manhattan’s employment will grow from its present 2.6 million by another 500,000 by 2030. This is unlikely. (more…)