President Obama wants to spend almost $8 billion in stimulus money to begin developing high-speed rail networks. While that's a significant amount, it's only a small fraction of the cost of constructing a 21st century rail system in the U.S.
On Thursday, President Obama announce that his administration is releasing $8 billion in funding for 13 high-speed rail lines spread across 31 states, and both the short-term and long-term economic benefits for the nation could be substantial.
Japan Central Railway's $600 billion proposal for upgrading America's rail system is almost as slick as its 200-mph locomotives -- a package deal for the entire operation, providing everything from cars to signals, rails to maintenance.
