In theory, it sounds great - high-speed rail for 80% of Americans. In practice, it is fraught with problems and expense.
http://www.washingtonpost.com/wp-dyn...021302203.html
My brother-in-law is the VP of an engineering consulting company that specializes in rail transport and even he's against it for many of the same reasons stated in the cited article. What a crazy waste of money.
None of our existing railbeds will support real high-speed rail (not the Acela joke in the Northeast corridor), right-of-way is crazy expensive, and there are no American manufacturers of high-speed rail cars. WTF is Obama thinking?