Newark’s $3.5 Billion AirTrain Fiasco
In the annals of government boondoggles, Newark Liberty International Airport’s AirTrain project has carved out its own special place. Initially pegged at $2.05 billion — an already staggering price for 2.5 miles of rail — this “essential” upgrade has now blossomed into a $3.5 billion financial black hole. That’s a 70% overrun, and they’re just getting started. The Port Authority of New York and New Jersey, the bi-state bureaucracy famous for its penchant for massive budgets and minimal accountability, voted this week to shovel another $1.45 billion into the project. Why? Because, as they say, “inflation.” And delays. And — get this — “risk premiums.” Translation: taxpayers are footing the bill for every conceivable misstep, from pandemic-induced inertia to supply chain chaos. The Pandemic Made Us Do It Yes, The Pandemic. That convenient scapegoat for every delayed, over-budget, underwhelming infrastructure project since 2020. Apparently, the virus not only caused supply chain woes bu...