An independent panel of analysts, created by law to protect California taxpayer interests, has concluded that President Obama’s current plan to bring high-speed rail to the Golden State “is not financially feasible.”

The California High-Speed Rail Peer Review Group (CHSRPRG) released a report yesterday finding: “Absent a clearer picture of where future funding is going to come from, the Peer Review Group cannot at this time recommend that the Legislature approve the appropriation of bond proceeds for this project.”