Update
At least the article from the times included some awesome rail photos.

Dan Savage went off on this piece, basically saying that Sound Transit is getting an easier ride on it’s long-term numbers than the monorail did. Comparing Light Rail to the monorail is something that both transit opponents and proponents do, and it’s completely inaccurate. The fact is that whether or not the monorail was a disaster, the comparison is inapt because the Monorail was a in-city rail while Sound Transit is a regional development.
People are complaining about Sound Transit’s debt because they think the fifty year time frame is too long. (Where were these people when Safeco Field was built?) If you look at the chart to the right, ST2 will cost $37.9 billion by 2057. But fifty years from now $1 will buy like 10¢ worth of goods. Look at this tool. I put $1 in from 1955 and got this back:
In 2005, $1.00 from 1955 is worth:
$7.29 using the Consumer Price Index
$6.01 using the GDP deflator
$9.90 using the value of consumer bundle
$9.92 using the unskilled wage
$16.67 using the nominal GDP per capita
$30.03 using the relative share of GDP
Inflated numbers lead to hysteria because $1 can look like $6~$30 in fifty years. A house in Wallingford cost about $3K in 1950, now it’s close to a million. That’s why its important to show the numbers in 2007 dollars, not in nominal future dollars.
Agency leaders say a more accurate number is $10.8 billion, representing the cost of construction and trains in 2006 dollars.
As with a home mortgage, it makes sense for voters to focus on the current sales price, said spokesman Ric Ilgenfritz. People who cite the long-term, inflated numbers “make the cost seem misleadingly high,” Sound Transit says.
That’s my feeling. We all wanted a monorail but, let’s face it, the monorail failed because of public hysteria and because they didn’t play nice with local politicians. Sound Transit is definitely on the right side on the later, let’s not play games with the numbers trying to recreate the former.
A snapshot of the Monorail’s debt-service compared to ST1, ST2 and a typical home loan:
