Reporting from Washington -- President Obama touted his plan for developing high-speed railways Thursday, detailing how $13 billion in federal money would act as a "down payment" on creating speedier passenger train service.

"High-speed rail is long overdue, and this plan lets American travelers know that they are not doomed to a future of long lines at the airports or jammed cars on the highways," Obama said. "There's no reason why we can't do this."

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