In the states, certainly. Countries in Europe have done a much better job, and they've even reaped a dividend as a result. Spain, Germany, France, even Italy generate economic growth when they roll out new lines where they want to see more development or expand traffic into popular city centers.

Biggest self-inflicted wound the UK did to itself to date was nixing the HS2 Northern Leg. Similarly, in the states, Houston/Dallas got royally fucked when the HSR connecting those two big metropoles got axed. Dallas is supposed to be gearing up as the NYC of the Gulf Coast. But it's impossible to get people into or out of town except through their maxed-out airports and clogged highways.