High speed rail won’t happen without federal funding

The US needs unquestionably needs high speed rail nationwide. Yet many states are in deep financial trouble and can’t fund it. Federal government outlays have been minor at best. Why is it the feds can shovel hundreds of billions to the banks in the form of bailouts and cheap credit yet can’t fund something concrete that would benefit the nation as a whole?

Other nations, like in Europe, Japan, and China, already have HSR. The US has an ancient rail system that badly needs upgrading. Unless more money is forthcoming, the billions already spent and allocated for HSR will have been wasted.