Seattle's Monorail: An Indecent Proposal?

"Are the wheels coming off America's biggest monorail commuter-train experiment? As the [Seattle Monorail Project] slashes at a bid proposal—-the project might be losing as many as six of 19 planned stations—-monorail officials say progress is being made...But according to some estimates, a 30-year monorail bond issuance, at 6 percent interest to finance $1.5 billion, will, over its lifetime, cost taxpayers more than $4 billion. A similar...50-year bond would mean $6 billion paid by taxpayers over time."