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But transportation officials say that California's high-speed rail project seems to be on a fast track to a hefty federal contribution - perhaps as much as $15 billion to $20 billion.

That optimism in the face of a dire economic outlook is the product of the priorities of President-elect Barack Obama's administration; the likelihood of a big federal infrastructure investment; growing concern over climate change; the volatility of gas prices; Californians' backing of the $10 billion high-speed rail bond measure and strong support for the project from the state's potent congressional delegation, including Sen. Dianne Feinstein and House Speaker Nancy Pelosi.

"It seems like the stars are aligned," said Rod Diridon of San Jose, a member of the High Speed Rail Authority.

Building the San Francisco-to-Los Angeles and Anaheim line that will be the spine of the system will cost between $32.8 billion and $33.6 billion, according to the High Speed Rail Authority's business report. Extensions built later would cost another $12 billion. In addition to the $10 billion from state bond sales, the authority is counting on $12 billion to $16 billion in federal funds plus $6.5 billion to $7.5 billion in private investment and $2 billion to $3 billion in local contributions.

Critics, during the campaign against state Proposition 1A, expressed skepticism about the plan's ability to attract federal funding during a recession. While most opponents now acknowledge that high-speed rail may capture billions from the new administration, they're still skeptical about the project's feasibility.

"So what if we get $12 (billion) to $15 billion? It still leaves us billions short," said Adrian Moore, vice president of research for the libertarian Reason Foundation, which opposed November's high-speed rail bond. "It's still ridiculous to assert that the private sector is slathering to invest in this. They should just ask for the whole $35 billion."

Federal funds could flow from four sources, according to transportation officials - an economic stimulus package, a high-speed rail bill, the Amtrak funding bill and the upcoming transportation spending plan.

The size of the economic stimulus package anticipated from the Obama administration is a mystery but it is expected to involve hundreds of billions of dollars and stress investment in public works projects. While the high-speed rail project meets that qualification, it's still in the engineering and planning stages and construction isn't set to begin until 2012. The stimulus package is expected to favor projects that can start construction quickly, probably in the next two years.