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The Spectacle Blog
In the last year, Amtrak set a record for ridership as their trains carried over 30 million passengers for the first time. Paradoxically, more riders means more losses, as a 2009 study found that the company loses money for every passenger it carries.
The GOP has been proposing cuts to Amtrak’s federal subsidies which, unsurprisingly, is being opposed by the Left. ThinkProgress brings us the headline “Amtrak Ridership Hits Record High as GOP Proposes Cutting Its Funding By 60 Percent.” Unmentioned by author Pat Garofalo: Amtrak’s problem with hemorrhaging money.
The company is projecting an operating loss of $507 million for the fiscal year ended in September — even more than its $420 million loss in 2010 — and next year, it expects to lose $616 million. Amtrak… hasn’t had a profitable year since it began operations in 1971.
This would be important information to know when considering the massive subsidies that Congress gives to Amtrak, huh? Just because the Lefties love rail service doesn’t mean that Congress should use taxpayer money to subsidize a service that few Americans actually use. Ridership returning to Amtrak should mean that the company can use increased business to restructure and provide limited, regional service that Americans actually want and could turn a profit, not capitalize on Democrats’ political inclinations to agitate for more handouts. 77% of Americans are against continuation of Amtrak subsidies.
Besides, Amtrak doesn’t need to be agitating for handouts when progressive organizations like ThinkProgress do it for them.
Bill Hussein O'Stalin| 10.16.11 @ 5:08PM
If Amtrak is losing more money with each additional passenger as you state then the solution is obvious. They should stop carrying any passengers and that would apparently lead to a profit.
Pecos Pete| 10.16.11 @ 6:55PM
I'm one of the 77% who is against continuing AMTRAK subsidies. AMTRAK should declare bankruptcy, downsize and then disappear.
Willie Green| 10.17.11 @ 11:41AM
Amtrak is already in receivership, Pete, and has been since it's very inception. The Federal Government is merely the custodian, not the owner. Common stock is still held by the private railroad freight interests who turned their passenger service operations over to government control during an era of cheap oil and after 15 years of government subsidized competition with the construction of the Interstate Highway System and Airline Industry.
Oil is no longer cheap. It is time to revive regional passenger rail service. Yet the Special Interests who oppose this proven fuel efficient mode of transportation are utilizing their polital influence to obstruct competition in the market, to the detriment of the broader economy and business community.
C Bowen | 10.16.11 @ 7:46PM
It's still pennies compared to what is wasted on airline subsidies and the ~$100 billion roads (i.e. special interests) get every year from the Federales.
Just another distraction...and take away all of the subsidies for transportation and I suspect rail might be able to hang around.
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Willie Green| 10.17.11 @ 10:41AM
As global supplies of easily extractable fossil fuels continue to decline and prices continue to rise, regional passenger rail service will become increasingly crucial to remain economically competitive in the 21st Century Global Economy. This trend is already evident by the increase in ridership that Amtrak has experienced during each of the last several years.
The proper way to eliminate taxpayer subsidies is NOT by slashiing funding, but to increase ridership above the 'break even point' by making the long term capital investment in track upgrades to provide faster, more frequent and convenient service.
Commuter passenger rail is faster and more fuel efficient than either congested highway or short-hop commuter airline travel. Yet the partisan GOP representatives answer only to the anti-passenger rail Special Interests who fund their campaigns, not their constituents or broader local business community who depend on passenger service.
As a lifelong conservative Republican, I am appalled by the obstinate libertarian/Tea Party embrace of economic stupidity.
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