I have no idea where the money will come from to repair America's infrastructure. I am even more puzzled considering the federal government is billing many states for the billions of dollars they borrowed to pay unemployment benefits. I think these repair projects will have to be put on hold until the economy turns around. I don't see how it could be funded at a time like this when our state and federal governments are plagued with debt.
It is a great question that no one seems to have the answer. At some point, it seems from these grades, that part of our infrastructure will begin falling apart and failing. Does this mean increased taxes to help raise money for these projects? I would think the state or federal gov'ts would hire specialists or construction workers to finish these jobs. Re-doing many of our main infrastructural mainstream pieces is going to be a huge bill. But in a world of logistics and transporting goods and services worldwide, they seem necessary.
It is considerably more cost effective to overhaul infrastructure, than to perpetually make small repairs on faulty roads and bridges year after year. While it is a huge bill to do this, we will eventually be saving ourselves a lot of money in the long run. Public works projects could also potentially provide jobs. Only if we knew where this money would come from.....
Can Obama create a FDR-esq public works program? This seems like a great opportunity to invest in public transportation, especially light rail and high speed trains. The nation does not want to face any more tragedies like the 35W Bridge Collapse in Minneapolis where lives were lost and a lot of money spent.
I dont think that anyone knows where the money is going to come from. Like Dave said, all levels of government are drowning in debt. There will have to be an increase in taxes, and a decrease in spending similar to what Bill Clinton had to do if they are going to turn this around. If the politicians can stop worrying about being right, and focus on doing the right thing, then we have a chance.
This post takes me back to a class I had with Dr. McKinney called Urban Economics. We spoke routinely about the degrading of the infrastructure and I specifically remember that when the interstate freeways were built and completed more than 3 decades ago, they were supposed to be renovated or replaced in 30 years and while the cost of just maintaining them was around $ 78 billion, the govt., was just using $70 billion. A lot of the pipes used in the water and drainage system in cities like NY are more than a century old and have not been replaced. The problems are staggering and the situation looks bleak. The problem lies in the fact that the need of the hour is a lot of public expenditure on the infrastructure which requires taxing. Politicians dislike taxes specially during election seasons. From a public standpoint, each generation likes to think that it is not their problem and that it can be solved by the next one. It's the fact that we are myopic that is a problem as well as that there is huge asymmetry of information as the public at large is, probably, unaware of these issues. While the damage to the roads is obvious, people are unaware of the potential health risks to their lives due to usage of ages old pipes and the wastage of water due to leakages in these pipes among all the other things. Who will pay for these repairs and maintenance? Hopefully the next generation - I got my fingers crossed.
These seem like very serious problems that should have a top priority on our contries "to do" list, however, where do these issues truly rank when along side healthcare, education, unemployment, military, food shortages and the many other categories that our nation has on it plate by now? it seems the more I find out about our country's current position, the more reason there is to be truly worried!
I have no idea where the money will come from to repair America's infrastructure. I am even more puzzled considering the federal government is billing many states for the billions of dollars they borrowed to pay unemployment benefits. I think these repair projects will have to be put on hold until the economy turns around. I don't see how it could be funded at a time like this when our state and federal governments are plagued with debt.
ReplyDeleteIt is a great question that no one seems to have the answer. At some point, it seems from these grades, that part of our infrastructure will begin falling apart and failing. Does this mean increased taxes to help raise money for these projects? I would think the state or federal gov'ts would hire specialists or construction workers to finish these jobs. Re-doing many of our main infrastructural mainstream pieces is going to be a huge bill. But in a world of logistics and transporting goods and services worldwide, they seem necessary.
ReplyDeleteIt is considerably more cost effective to overhaul infrastructure, than to perpetually make small repairs on faulty roads and bridges year after year. While it is a huge bill to do this, we will eventually be saving ourselves a lot of money in the long run. Public works projects could also potentially provide jobs. Only if we knew where this money would come from.....
ReplyDeleteCan Obama create a FDR-esq public works program? This seems like a great opportunity to invest in public transportation, especially light rail and high speed trains. The nation does not want to face any more tragedies like the 35W Bridge Collapse in Minneapolis where lives were lost and a lot of money spent.
ReplyDeleteAt least our sewage rates a C+...
I dont think that anyone knows where the money is going to come from. Like Dave said, all levels of government are drowning in debt. There will have to be an increase in taxes, and a decrease in spending similar to what Bill Clinton had to do if they are going to turn this around. If the politicians can stop worrying about being right, and focus on doing the right thing, then we have a chance.
ReplyDeleteThis post takes me back to a class I had with Dr. McKinney called Urban Economics. We spoke routinely about the degrading of the infrastructure and I specifically remember that when the interstate freeways were built and completed more than 3 decades ago, they were supposed to be renovated or replaced in 30 years and while the cost of just maintaining them was around $ 78 billion, the govt., was just using $70 billion. A lot of the pipes used in the water and drainage system in cities like NY are more than a century old and have not been replaced. The problems are staggering and the situation looks bleak.
ReplyDeleteThe problem lies in the fact that the need of the hour is a lot of public expenditure on the infrastructure which requires taxing. Politicians dislike taxes specially during election seasons. From a public standpoint, each generation likes to think that it is not their problem and that it can be solved by the next one. It's the fact that we are myopic that is a problem as well as that there is huge asymmetry of information as the public at large is, probably, unaware of these issues. While the damage to the roads is obvious, people are unaware of the potential health risks to their lives due to usage of ages old pipes and the wastage of water due to leakages in these pipes among all the other things.
Who will pay for these repairs and maintenance? Hopefully the next generation - I got my fingers crossed.
These seem like very serious problems that should have a top priority on our contries "to do" list, however, where do these issues truly rank when along side healthcare, education, unemployment, military, food shortages and the many other categories that our nation has on it plate by now? it seems the more I find out about our country's current position, the more reason there is to be truly worried!
ReplyDelete