California has a state GDP, gross domestic product of $1,958.9 billion or about $1.95 trillion.
(See Department of Commerce, Bureau Economic Analysis: http://www.bea.gov/regional/bearfacts/action.cfm)
California's GDP in comparison to other countries places it as being the 9th largest economy in the world after Italy and before India. (See: http://data.worldbank.org/data-catalog/GDP-ranking-table)
California's budgetary problems are problems caused by beliefs in how a government is to be funded and in the purpose of government. Ultimately government exists to protect life and property. Whose life and whose property; how and why life and property is protected defines the government.
A government owned high speed rail system is a system that is capable of being built by all the citizens of California. Once built it may or may not be operated by California. That will be seen.
As an economic tool, the high speed rail system will contribute to California's economic strength just as such systems have contributed to the economic strength of France, Germany, Japan, etc.
Today it is not possible to begin and end a trip in California without reliance upon an oil propelled transportation mode.
It is possible to begin and end a trip in Italy, a place with a GDP slightly ahead of California's GDP, without relying upon an oil propelled transportation mode.
It was once possible to begin and end a trip in the USA without relying upon an oil based transportation mode.
The United States needs to build a higher speed (HrSR) rail system for the whole United States starting by upgrading the existing freight railroad system to higher speed rail capability. Higher speed rail (HrSR) capability is speed up to 110 mph. That can be accomplished through electrification of freight railroads. Doing so would create a transportation system capable of supporting higher freight train speeds compatible with passenger train speeds. Such universal passenger train service would be the feeder system to high speed rail (HSR) speeds up to 220 mph.
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