Tuesday, December 13, 2005

It's Time to Rebuild America

Private investment has led U.S. economic growth for two centuries, but it could not have done so without a series of complementary public investments in canals, railroads, roads, the airspace system, water projects, public transportation, public schools and the like, which improve business productivity and our standard of living while generating significant increases in private-sector employment. But these investments have been badly neglected in recent years. A biannual survey by the American Society of Civil Engineers, grading all categories of infrastructure from schools to sewers, indicates a gap of $1.6 trillion over five years between what is needed to bring national infrastructure up to reasonable standards and what is now in prospect. School buildings alone would require $125 billion to reach a minimal standard of safety and soundness.

See the whole article here

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