Amtrak in 1973 and other stories about trains | 60 Minutes Full Episodes

Amtrak, established by Congress to save long-distance passenger trains, was fundamentally flawed from its inception. It did not own or operate its trains; instead, it funneled over $200 million to 13 private railroads that had actively sought to exit the passenger business. These railroads, prioritizing freight profits, provided poor service, used old equipment, and were not contractually obligated to deliver efficiency, leading to significant financial losses and a bleak future for passenger rail.

Congress gave Amtrak over $200 million, and since that time, Amtrak has lost it all. Amtrak only funnels money to the 13 railroads in the Amtrak system. Nothing in the contract gives Amtrak the muscle to demand and get efficient service.

California's ambitious high-speed rail project, initially envisioned to connect LA and San Francisco for $33 billion by 2020, became a 'nightmare of government waste and mismanagement.' The project's scope was drastically reduced and its cost inflated to over $125 billion with a delayed completion date of 2033 for a limited segment. This failure stemmed from theoretical initial planning, immense challenges in acquiring 3,000 land parcels, stringent environmental regulations, high US labor costs, and a lack of upfront financing.

California voters approved a ballot measure for a train connecting Los Angeles to San Francisco in less than 3 hours. The estimated price tag $33 billion. Completion date 2020. Today, the state's highspeed rail authority is preparing to lay its first tracks at roughly the same cost... connecting Bakersfield and Merced... When will it open? 2033, maybe. Today, we estimate with the right optimization just over $125 billion.

The New York City subway, once an engineering marvel, is now a prime example of ailing infrastructure due to decades of neglect. It operates with a century-old signaling system from the Great Depression, leading to frequent delays and breakdowns. Modernizing this system, along with station renovations and new cars, is projected to cost $40 billion. The challenge lies not only in the immense cost but also in overcoming political squabbling over funding mechanisms and gaining public patience for necessary service disruptions.

Equipment that's been operating since the Great Depression. This machine more than a 100red years old. Bifford's plan could cost a whopping $40 billion. The politicians are squabbling.

The US suffers from a nationwide infrastructure crisis, with crumbling roads, structurally deficient bridges (one in nine), and outdated airports and seaports. This decay is a direct result of decades of underinvestment, with public spending on infrastructure at its lowest level since 1947. The primary funding mechanism, the Federal Highway Trust Fund, is nearing insolvency because the federal gas tax has not been raised since 1993, highlighting a persistent lack of political courage and consensus.

Nearly 70,000 bridges in America, one out of every nine, is now considered to be structurally deficient. The last time we raised the gas tax... was 1993. Public spending on infrastructure is fallen to its lowest level since 1947.