Amtrak claims to have lost only $29.8 million in 2019 and claims it will turn a profit in 2020. Now lets remove the accounting tricks (aka LIES) and try that again.
Amtrak counts State subsidies as “passenger revenue.” WRONG. It is a government subsidy, extracting from people who, for the most part, will never set foot in an Amtrak railroad car. $234 million of subsidies, not passenger revenues.
That takes Amtrak’s true loss for 2019 to $264 million.
Oh, and they failed to mention $868 million in depreciation in 2019.
That takes Amtrak’s true loss for 2019 to $1.13 billion.
Even Amtrak’s Boston to Washington route is not profitable with depreciation figured in. It is the only part of the Amtrak system that could ever plausibly be made profitable.
The rest of the system, particularly the long haul routes, are massively unprofitable. Other than Boston to Washington, the system will never be profitable and it is not even certain if Boston to Washington could be made profitable.
It is time to withdraw the subsidies that keep this zombie functioning. In return for shutting down the rest of Amtrak immediately, I would be willing to support a phased out subsidy on the Boston to Washington corridor, giving Amtrak a set time period to make that route profitable. If it is not profitable within the allotted time limit, it to would be shut down.