I think about the U.S.' poor railway transportation all the time. I'm gonna be rude and assume you can't always drive when and where you'd prefer like me, and I pull what's left of my hair out hearing about the deliciously efficient "bullet trains" overseas. Especially since it seems like a win-win where lots of blue/white collar jobs get created along with a big americany thing like the huge construction projects of the depression... uh, like, you know?
I can't drive because of my epilepsy, so I have to rely on others for transport or rely on a bus system if the location has them. I was actually struck by how few buses I saw in Atlanta, but their road system is so screwy that I can understand why they have a train system instead.
If I want to take a train to Chicago, it's going to take twice as long as driving in a car or taking the Megabus because passenger trains have to yeild to freight trains (which makes sense, passenger trains are lighter and can stop more easily after all).
That said, one problem with modeling anything after the New Deal is that the New Deal elongated the depression in the USA. Capitalism works when you keep your hands off the problem. However, it's rare that people can let something fail so that it can recover and start over if starting over is even the right thing for that economic situation to do. This is also why the recession is still lingering because we were so afraid of failure that we've set up a hostile jobs and business environment instead and haven't corrected for some of the problems that created the recession in the first place.
The biggest problem with creating the high speed rail system is the money. When the project was proposed to link Chicago to area cities like Indianapolis, Milwaukee, etc..., the federal government said that the states themselves would have to foot the bill for the section of rail in their state. At the time, Indiana was the only state in that area whose budget was not in the red. It was going to be very hard to find the funds from tax payers to pay for the project, which probably should be funded at a federal level. Our country is already in a lot of debt and this project would just exacerbate the problem.
We would need this project to be at the federal level. It would also likely interrupt train travel in certain locations depending on how the high speed rail is implemented. Not to mention, there would be eminent domain kerfuffles along the way. Another problem with it is that the contract to make the trains could go to a company who works overseas, and then that does not help the US in terms of job creation because their factories are not in the US. I'm not sure if we even have people who make high speed trains in the US actually, but I've never looked it up.
But, then again, we should start sooner than later, but ideally when it will turn into a project that's feasible and not a potential litigation money pit.