A while back I linked to the Google video speech given by Robert Bussard regards his research into an avenue started by the UK scientist Doctor Philo Farnsworth.
Here is a good article in Defense News that explains it in layman's terms. It also explains why the project was terminated. The DOE tokamack project employs thousands of scientists and generates huge ammounts of research funding, all under the DOE umbrella. DOE is sure they can get their system to work in 20-30 years or so...so the idea that they would approve 200 million to kill their meal ticket is unlikely.
Here is Bussard's new research group, where he's trying to raise money to complete the research.
This could be the story of the century if it pans out.
If it doesn't, 200 million will have told us what doesn't work...and it's only 10 Dirskins anyway.
UPDATE: Heh, It's said that great minds think alike.....but sometimes, for reasons unclear, they think like me...
Jerry Pournelle is also looking at this, he links to this page which includes several documents that might be of interest.