While the Tea Party focuses on the budget deficit, channeling the ghost of Herbert Hoover, the nation’s infrastructure slowly crumbles.
The Urban Land Institute says:
In contrast with its global competition, the United States is lurching along a problematic course—potentially losing additional ground. After more than 30 years of conspicuously underfunding infrastructure and faced with large budget deficits, increasing numbers of national and local leaders have come to recognize and discuss how to deal with evident problems. But a politically fractured government has mustered little appetite to confront the daunting challenges, which include finding an estimated $2 trillion just to rebuild deteriorating networks. Operating beyond their planned life cycles, these systems include roads, bridges, water lines, sewage treatment plants, and dams serving the nation’s primary economic centers.
Brookings calls the infrastructure deficit “more than $2 trillion.”
And this article (thanks for these, Jonathan!) says that to build the infrastructure we need would cost $8 trillion or more.
With interest rates low and millions of talented people looking for work, wouldn’t it be a good idea to float 30-year bonds to put them to work revitalizing our infrastructure with projects that might last 100 years?
Quote of the Day
Borrow money from pessimists -- they don't expect it back.~Steven Wright
Request email delivery
- Mar 31:
Equal Time: Listen To Trump Activists
- Mar 30:
The Doctor Is In
- Mar 27:
The Word From St. Louis: Not Your Ordinary Recession
- Mar 26:
Using This Time Well
- Mar 25:
Take It From An Idiot
- Mar 24:
Potential Good News? UPDATED
- Mar 22:
Investing Perspective . . . And A Possibly Good Idea?
- Mar 20:
Don’t Bail Out The Airlines! Watch “After The Truth” On HBO
- Mar 19:
Take The Census Right Here And Now
- Mar 18:
The Deep State
- Mar 31: