High speed rail is a long-overdue concept for the U.S. economy whose time has finally come. But only European companies can bring it to pass.

President Barack Obama has promised $8 billion in stimulus funds to build the first real U.S. high-speed trains. The announcement, made by the President the day after his annual State of the Union speech in January, in which job-creation was a major theme, came in Tampa, Florida, the terminus of a planned link with Orlando. That is a prime high-speed project, along with two others: Sacramento and San Diego in California and a third one, a nine-state proposal in the Midwest with Chicago as its hub.

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