Also mentioned is how President Obama has made comparisons of the US to Spain. Spain has recently made a huge investment in high speed rail to try and surpass France and Germany, and at the pace they are going they will. Another country that is trying to become a world leader in high speed rail is China, which is looking to surpass Japan.
The article is one of a few articles I have read that don't discount high speed rail as a "train enthusiast fantasy" that will cost too much. The WSJ writer Thomas Catan does a good job of describing the problems and successes of high speed rail in Spain.
I believe that in order to get a real high speed rail system (none of this 110 mph stuff, but 200 mph) an investment on the order of $100 billion is needed. Unfortunately, that will probably not happen soon as some people still think that trains are just a waste of money (Sen. McCain I'm talking to you).
Picture from the article:

Agence France-Presse/Getty Images
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