It’s somewhat understandable that few politicians want advocate for the massive spending it would take to update and maintain our existing infrastructure. It’s much easier to be a silent and foolish than loud and prudent. But if the United States fails to take advantage of current economic conditions to reinvest in infrastructure, it’s only going to have to inconvenience itself more in the future. See: the Washington DC Metro.
This is the gist of economist Larry Summer’s latet thoughts on the subject. Summers explains that there’s no better time than now to invest in America’s infrastructure. Interest rates are ridiculously low. Unemployment in the construction sector is in the double-digits. What are we waiting for?
W-T-W.org suggests a tewtny-year infrastructure program financed by loans from the Federal government, subject to approval by each state. Intractablly unemployed could have jobs until we learn how to match job readinesss with available jobs.
