March 22, 2002 -- Amtrak’s financial hemorrhaging is so severe that it may be insolvent by summer. The railroad’s auditor, KPMG LLP, is holding back from declaring it a “going concern.” Rep. John Mica (R-Fla.) has flatly declared, “Amtrak isn’t broken, it’s bankrupt,” and he’s right. The Amtrak Reform Council has found Amtrak incapable of surviving without continuing taxpayer subsidies and, following a 1997 law, sent a plan to Congress recommending Amtrak be reorganized. That finding triggered a requirement that Amtrak simultaneously submit a liquidation plan to Congress, which would choose among the plans or create a hybrid plan.