Skip to comments.Another big blow on [Big] Dig price: Final cost may rise by $333M
Posted on 05/04/2007 5:42:46 AM PDT by cloud8
Taxpayers who have already suffered through waste, fraud, delays and even a tragic accident from the budget-busting Big Dig are now getting a new kick in the pants: a bill as high as $333 million that has even Gov. Deval Patrick "fed up."
In financial documents to be released today, the Patrick administration will formally disclose that costs have ballooned to at least $14.798 billion and may increase by another $160 million, pending the outcome of negotiations with contractors, sources confirmed.
The cost correction comes as Patrick tries to exert more control over the project and the Turnpike Authority, whose shaky management has provoked federal probes into the projects finances and construction quality.
(Excerpt) Read more at news.bostonherald.com ...
Big Dig - Ted Kennedy Legacy.
A $2.5 Billion Project... looks like it’c coming in at $15 Billion. Talk about your effing boondoggle. Romney should be asked questions about this.
Like so much of Ted's legacy, someone else must pay the price.
So what’s the news? Government can’t do anything right. If you are over 12 years of age there is no excuse for believing otherwise.
To put it into perspective- the Alaska Oil Pipleine was only $10billion.
But then again, that was originally projected to cost only $10Million. Only off by 9.99 Billion. (1000 times the original cost estimate...)
That's why he's "fed up".
The joke around Boston whose residents keep sending this moron back to Washington (probably to keep THEIR daughters safe) -- used to be that Teddy was down to his last brain cell. Looks like even THAT one finally gave up the ghost.
“The joke around Boston whose residents keep sending this moron back to Washington”
The joke is obviously on us. They got the money.
The most effective argument against ANY new government program is the past performance of the government. Wielded effectively it could shoot down ANY socialist pipe dream. The fact that no Republicans ever use it show me that they are on the other side.
I hope you New Englanders love your goombah run govts.
It’s been good for Dunkin’ Donuts.
All those union guys sitting around drinking coffee for years has sure helped their bottom line.
Yeah, Cadillac is fed up that he hasn't been in on any kickback action. He's going to fix that right now.
Thank the unions......
Love the Teddy’s Tunes album...don’t forget Chappaquiddick Choo-choo :)
Everything Fat Ted touches, goes under.
“To put it into perspective- the Alaska Oil Pipleine was only $10billion.
But then again, that was originally projected to cost only $10Million. Only off by 9.99 Billion. (1000 times the original cost estimate...)”
I’ve got some problems with your figures.
Where did you find that original estimate of $10 million?
Just the preconstruction survey alone cost over $2 million.
And considering it was the largest privately-funded construction project at the time, do you think that nothing more expensive had ever been built?
For example, the Sears Tower built in Chicago in 1973 cost about $175 million.
And at $10 million for 800 miles, that would put construction costs at $12,500.00 per mile. You can’t even come close to building a highway in the states for that amount.
Plus everywhere I checked shows the construction costs were $8 billion, not $10 billion.
The Alaskan Pipeline was built in about 26 months and the first oil flowed thru a month later.
But, of course, this was private enterprise, not the government doing it with your tax money.
thought they were worried about the deficit?
Original projections are often wildly optimistic. However, wild optimism results in an error that is typically much less than 1000x at least in construction projects.
You wrote (with respect to the Alaska pipeline):
But then again, that was originally projected to cost only 10Million. Only off by 9.99 Billion. (1000 times the original cost estimate...)
A quick web search found
Originally budgeted at $900 million, the pipeline cost more than $8 billion to build
Some statistics of interest. The initial estimated cost of installing 800 miles of buried pipeline was $900 million, and the actual cost was more than $8 billion.
If these sites are correct, the $10Million original projection you quote is 90-fold too low. If these sites are incorrect and your number is correct, they are 90x too high.
Your source and the ones I google’d both agree on the final cost (ca 10 billion). I’m going to go with the ca 1 billion dollar projected cost estimate.
And I would guess that future pipeline construction estimates would be substantially closer than 10x to the final costs.
Damn, wish I’d thought of that one. Nice!!
May steal it. Gotta check with Joe Biden first!
Not all of us are.Massachusetts is one of only three states in the country that's actually *losing* population.The other two,IIRC,are Rhode Island and New York.
Between the Mob and the Democrats I’d say that those living in Massachoosits are screwed.
Yah,you're pretty much right.I've been planning my escape for a while but now that we have a genuine Clintonista affirmative action Governor I know that before too long property values in the state will be in free fall so...North Carolina,here I come!!!