California's newly approved $68 billion high-speed rail project faces funding obstacles, but a business plan from Gov. Jerry Brown's administration suggests private investors and revenue from the state's cap-and-trade program are expected to help finance its construction.
The Huffington Post quotes Brown as saying, "The money is there. We have the capability in California in a $2 trillion annual economy to finance this thing." Meanwhile, farmers and budget hawks are lining up against the project.