Obama decided not to nix the program. This railgun shoots out projectiles at mach 7.5, which is hyper velocity, from a ship 200 miles away, the missile reaches it's target in 6 minutes, which is pretty amazing. There are rumors that the Navy has already installed 3 railguns to it's persian, atlantic and pacific fleet. It will be a smaller version apparently, but fuck, that thing will be able to do alot of damage.
Looks like the future is here. You can see an article on it here
http://www.defenseindustrydaily.com/...-weapon-01986/