Back of an envelope calculations seem to indicate that a 200km one is possibly feasible using normal petrol, tho I wouldn't like to bet on geostationary. The space fountain has it's own issues, such as engineering the deflector and making the giant electromagnetic tube. What I am suggesting is far simpler.

edit - and the I had the idea before Kerbal came out, so if it is total madness, I promise you they are not to blame.