Whenever politicians spend large sums of taxpayer money on pet projects, they invariably overstate their supposed economic benefits, particularly creating oodles of “good-paying jobs.” They all do it, using a deceptive assumption that if one worker works one day on the project, it’s counted as a “job.” Ralph Vartabedian, a reporter for the Los Angeles Times who — thank goodness — specializes in telling us what’s really happening, or not, in the state’s woebegone high-speed rail project, punctures its job creation myth in a recent article. Vartabedian cites a banner on a bullet train viaduct in Fresno claiming “5,000 jobs and counting” but reveals that while consuming many billions of dollars
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