We Need More Passenger Trains in the US Because China Has Them - Irrelevant Excuse Really

Perhaps you recall President Obama's plea to the American People to think innovation, and win the future.
He also noted that China had faster high-speed rail trains than we did, and that we were getting behind, as if to inspire us to move ahead and compete with China? Okay so, let's talk about this, because it now appears that China made a serious mistake promoting high-speed rail and now they are paying for it, and thus, maybe we should attempt to follow them down that dead end track or unfinished bridge to nowhere.
Is there light at the end of tunnel for America's 10s of billions of dollars designated for high-speed rail projects? It doesn't look as if these projects would account for much employment in the US (shovel ready jobs).
In fact, we'd probably end up buying Chinese trains in a low-bid situation with a GE partnership of some type I imagine, that is if any of this comes to fruition.
Meanwhile, Amtrak continues to lose money every year in the US, and although it's not as bad as the USPS for a bottomless money pit, Amtrak certainly isn't anything to ride home about.
Recently, there was an interesting article in China Economic Review on July 20, 2011 titled; "Debt Piles Up at China Railway Ministry (MOR)" which stated that; "MOR had accumulated $294.
87 (USD) billion of debt by the end of the first quarter this year, causing its asset-liability ratio to reach 58.
24%.
The MOR said it would issue $3.
1 billion in short-term financing bonds on July 21 to support railway construction, train purchases, and capital turnover.
MOR completed construction on 8 fast railways in 2010, or 1,554 kilometers of track, is constructing 18 high-speed railways that year.
The MOR plans to invest $115.
3 billion in fixed assets in the railway sector in 2011.
" Now then, it is great to see China marching ahead 8-men abreast into the South China Sea with their high-speed rail projects, but as it stands with all that debt, they will have to charge such high rates to passengers, that it will be cheaper to fly.
Meanwhile, China is also subsidizing their airlines, another challenge, this time a runway to nowhere.
Okay so, the reason I bring all this up is that when President Obama came into office he told us that Europe had free-healthcare for all, and so should the US.
But the EU nations are worried about defaulting on their debt.
Whoops? I guess we shouldn't have tried to follow the socialists into the health and human services abyss.
But now Obama has another grand plan, follow the Chinese by providing high-speed rail.
No, China is not a socialist nation, it's a communist nation.
Why are we following them, as they are trying to imitate us? Sounds like a giant game of musical chairs in a giant circle jerk.
Well, I guess the recent piece on ForaTV said it best; Washington DC is a Giant Ice Cream Cone Licking Itself.
Yes, I laughed too when I heard that, but he has a point.
Maybe it's time America stopped blowing money on nonsense, what say you?