Word: railed
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...Rail Revival...
...essential that our railroads be revitalized, and I recognize this important first step by U.S.R.A. in identifying some of the problems. But I believe additional consideration must be given to new ways for bringing our railroads back to life. Perhaps we could enlist the U.S. Travel Service to encourage rail use by foreign travelers during the Bicentennial period. This, of course, would mean that rail improvement must involve local planning, rather than leave the burden solely to federal and state assistance...
...ailing railroads of the U.S. Northeast sometimes seem to come along more regularly than the trains that run on them. But the one that emerged from Washington last week could well become a reality. Drafted by the U.S. Railway Association, a federal agency created last January by the Regional Rail Reorganization Act, it would perform costly and radical surgery on the deteriorating rail system that stretches over 17 states in the Northeast and Midwest...
Faster Service. The Railway Association promises that its long-awaited plan would transform what it calls "a transportation disaster unparalleled in the nation's history" into a self-sufficient system within this decade. Under the plan, a private but federally backed company called Consolidated Rail Corp. (Conrail) would carry out the largest corporate reorganization in history: it would take over and consolidate the operations of the bankrupt Penn Central and six other troubled roads. Conrail would lop off about 30% of the combined roads' rail network, unless affected states could come up with 30% of the required subsidies...
...tunnel was estimated at $2 billion. Today the figure has risen to more than $4.5 billion. Although the construction was being financed by private French and British consortiums, the two governments had agreed to guarantee all loans obtained by the two tunnel companies. Moreover, a high-speed rail connection between the tunnel and London would have cost Britain $885 million. For a nation struggling with a 19% inflation, the project started to look like a fiscal albatross...