Even Democrats in the state Legislature are starting to get nervous about continuing the high-speed rail program.  After all, the price has gone up to close to $100 billion. That's such a vast sum of money; the state can't possibly afford that, right?
Well, let's think about that and put it in a little historical perspective.
The Golden Gate Bridge was constructed during the worst years of the Great Depression. Cost in today's dollars: $1.2 billion. That's for one bridge.
BART was built in the 1960s. Cost in today's dollars: $6.4 billion . For a transit system serving (at the time) three counties.
The California Aqueduct was also built in the 1960s. Cost in today's dollars: $31 billion. 
I can't find good figures on the historical cost of building the California freeway system, but in 2006 dollars, highway construction runs between $3 million and $19.5 million per lane-mile.  That is, a four-line highway costs between $12 million and almost $80 million a mile. If you take just the ten biggest highways in the state (a total of 3,547 miles) and figure a middle-of-the-road average of $40 million a mile, building the backbone of the state's freeway system would cost $141 billion today.
High-speed rail, of course, gets cars off the road, reduces pollution and fossil-fuel dependence, and offers a much better transportation experience  for people moving around California.
Sounds like a bargain to me.