Infrastructure, Again

By
Monday, October 11, 2010 at 1:08 pm

This morning, President Obama held a meeting at the White House to press, again, for infrastructure investment. The time is right for massive infrastructure spending, the president said, because of the high rates of unemployment in construction and overwhelming need for the country to update its roads, railways, highways and airports.

Treasury Secretary Timothy Geithner and Transportation Secretary Ray LaHood flanked the president — as did a bevy of mayors; Norman Mineta, a Democrat and George W. Bush’s transportation secretary; and Samuel Skinner, a Republican and George H.W. Bush’s transportation secretary.

“By making these investments across the country, we won’t just make our economy run better over the long haul,” the president argued, repeating a push he first made on Labor Day. “We’ll create good, middle-class jobs right now.” To back him up, the Council of Economic Advisers released (PDF) a new analysis of the White House’s $50 billion proposal, tied to a re-authorization of the surface transportation program and the creation of a new National Infrastructure Bank.

The public broadly supports such infrastructure spending. From the CEA report:

As a result of years of under-investment in our transportation system, Americans’ satisfaction with our public transit system, when compared to public satisfaction with public transit systems around the world, ranks 25th out of 32 OECD nations. While our nation has historically favored road building over public transit, we rank only 17th out of 32 — in the middle of the pack — with respect to our satisfaction with our roads and highways. The relatively higher satisfaction with roads and highways is consistent with the observation that our nation’s historic investment pattern favored highways and roads over public transit.

One study found that almost 19 out of 20 Americans are concerned about America’s infrastructure and 84 percent support greater investment to address infrastructure problems.

But Congress has proved intransigent. Republicans have repeatedly blocked any additional stimulus spending, no matter how many jobs it might create, citing concerns over the deficit. And Obama cannot create new investment — no matter how economically rational — without Congress.

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Comments

25 Comments

Obama calls for $50 billion infrastructure initiative – Washington Post « Contacto Latino News
Pingback posted October 11, 2010 @ 1:30 pm

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Obama Says `Crumbling’ Transport Infrastructure Hinders Growth of Economy – Bloomberg « Contacto Latino News
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Obama Calls For Increased Infrastructure Investment – RTT News | FinanceNox.com
Pingback posted October 11, 2010 @ 1:42 pm

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Obama Calls For Increased Infrastructure Investment – RTT News | FinanceGrind.com
Pingback posted October 11, 2010 @ 2:08 pm

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Pingback posted October 11, 2010 @ 2:10 pm

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Obama Says `Crumbling’ Transport Infrastructure Hinders Growth of Economy – Bloomberg
Pingback posted October 11, 2010 @ 2:22 pm

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Obama pushes infrastructure investment – UPI.com » Some News
Pingback posted October 11, 2010 @ 2:40 pm

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Obama Says `Crumbling’ Transport Infrastructure Hinders Growth of Economy – Bloomberg | newslive.biz
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Obama Says `Crumbling’ Transport Infrastructure Hinders Growth of Economy – Bloomberg « iFoday.com
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Obama renews push for $50-billion ‘roads, railways and runways’ program – Los Angeles Times « Contacto Latino News
Pingback posted October 11, 2010 @ 3:22 pm

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Latest-Report.com
Trackback posted October 11, 2010 @ 4:59 pm

Infrastructure Spending Creates Right Jobs…

The Council of Economic Advisers has a report (pdf) out this day making the case for more infrastructure investment. Most of the arguments will be familiar to folks who read last week’s column on the subject, but the CEA presses one button that I wish…


HSR0601
Comment posted October 11, 2010 @ 6:59 pm

Equation :

Depression : New Deal = Great Recession : Stimulus Package (Groundwork) + Incomplete Energy Independence or A Jobs law

The Problem = The destructive war & military waste + Stimulus Package

Therefore = Incomplete Energy Independence or A Jobs law – The destructive war & military waste

Criticism = Stimulus Package (Groundwork)

Conclusion = Gambling on Iraq Oil + weapon sell Again + Double-dip Depression

Cure = Slashing the destructive war & military waste + Completion of Energy Independence or A Jobs law

Anger at These :

?

Gambling on Iraq Oil Again : A Drop in the Bucket Vs. Growing Population & Demand World-wide. The Age of Cheap Oil = A Thing of the Past.

?

1. At this time, it looks like the oil-friendly country is gambling on Iraq oil again, citing a big government & deficit, and therefore the world-wide stimulus package worth trillions and health care reform in America are now at stake.

?

2. Of the money by the money for the money is getting a society nowhere near prosperity.

Gambling on party of “no idea” is sure to be much like Throwing an Egg of Economy Against a Rock.

?

The outcome of government take-over :

?

1. In banking industry, the result of government take-over is big bonus parties backed by the tax-payer's invaluable cash.

?

2. In healcare reform, the outcome of government take-over is to dump ill children when needed most.

?

3. In oil spill, the administration should be held responsible for its deregulation, urging a big government

?

Chanting deficit :

?

1. Amid chanting deficit, the same old failed policy.

?

2. Amid chanting deficit, hands-off approach over huge trade deficit from oil money spill & trade imbalance with China from remorseless health care premium.

?

3. Unfortunately, as a direct consequence of remorseless health care premium, numerous folks have no choice but to hang onto affordable offerings, since one in two households is said to face a hard decision between necessity & drug.

?

4. Inaction cost in relation to health care reform totals $9trillion over the next decade.

?

5. Over the next 10 years, total Bush tax cut costs will equal $3.9 trillion, …. the tax cuts would increase deficits by nearly $4 trillion between 2005 and 2014.

?

The most critical debt : Personal Bankruptcy

?

1. The current recession came from Personal Bankruptcy largely as a consequence of the relentless health care costs, pain at the pump, and the subsequent subprime mortgage crisis.

?

Facig huge trade deficit from oil money spill & trade imbalance with China, the primary economic policy of previous administration was ” spending baby “to the great delight of republicans' sponsors.

?

2. By comparison, the recovered stock market value alone, around $1.5 trillion, is nearly twice as much as the stimulus package, set aside all the other benefits.

?

As always, the republicans and unqualified media let folks locked in a box. ruling out the positive effects.

?

?

The most promising deficit-cut of government : Slashing the destructive war & military waste

?

1. Slashing the destructive war & military waste alone supposedly could be enough to balance the budget.

?

?

Energy Independence : An Only Way to Desperately-Needed Job Growth

?

1. My response to the question : where are jobs ?

In the trade deficit, exactly in the severe and persistent oil money spill, taboo of ” do not add to the deficit” party.

?

2. Under the existing lavish Bush tax cut for bonus parties, a sole job plan for the republicans, the country already saw millions of job cuts.


HSR0601
Comment posted October 11, 2010 @ 6:59 pm

Equation :

Depression : New Deal = Great Recession : Stimulus Package (Groundwork) + Incomplete Energy Independence or A Jobs law

The Problem = The destructive war & military waste + Stimulus Package

Therefore = Incomplete Energy Independence or A Jobs law – The destructive war & military waste

Criticism = Stimulus Package (Groundwork)

Conclusion = Gambling on Iraq Oil + weapon sell Again + Double-dip Depression

Cure = Slashing the destructive war & military waste + Completion of Energy Independence or A Jobs law

Anger at These :

?

Gambling on Iraq Oil Again : A Drop in the Bucket Vs. Growing Population & Demand World-wide. The Age of Cheap Oil = A Thing of the Past.

?

1. At this time, it looks like the oil-friendly country is gambling on Iraq oil again, citing a big government & deficit, and therefore the world-wide stimulus package worth trillions and health care reform in America are now at stake.

?

2. Of the money by the money for the money is getting a society nowhere near prosperity.

Gambling on party of “no idea” is sure to be much like Throwing an Egg of Economy Against a Rock.

?

The outcome of government take-over :

?

1. In banking industry, the result of government take-over is big bonus parties backed by the tax-payer's invaluable cash.

?

2. In healcare reform, the outcome of government take-over is to dump ill children when needed most.

?

3. In oil spill, the administration should be held responsible for its deregulation, urging a big government

?

Chanting deficit :

?

1. Amid chanting deficit, the same old failed policy.

?

2. Amid chanting deficit, hands-off approach over huge trade deficit from oil money spill & trade imbalance with China from remorseless health care premium.

?

3. Unfortunately, as a direct consequence of remorseless health care premium, numerous folks have no choice but to hang onto affordable offerings, since one in two households is said to face a hard decision between necessity & drug.

?

4. Inaction cost in relation to health care reform totals $9trillion over the next decade.

?

5. Over the next 10 years, total Bush tax cut costs will equal $3.9 trillion, …. the tax cuts would increase deficits by nearly $4 trillion between 2005 and 2014.

?

The most critical debt : Personal Bankruptcy

?

1. The current recession came from Personal Bankruptcy largely as a consequence of the relentless health care costs, pain at the pump, and the subsequent subprime mortgage crisis.

?

Facig huge trade deficit from oil money spill & trade imbalance with China, the primary economic policy of previous administration was ” spending baby “to the great delight of republicans' sponsors.

?

2. By comparison, the recovered stock market value alone, around $1.5 trillion, is nearly twice as much as the stimulus package, set aside all the other benefits.

?

As always, the republicans and unqualified media let folks locked in a box. ruling out the positive effects.

?

?

The most promising deficit-cut of government : Slashing the destructive war & military waste

?

1. Slashing the destructive war & military waste alone supposedly could be enough to balance the budget.

?

?

Energy Independence : An Only Way to Desperately-Needed Job Growth

?

1. My response to the question : where are jobs ?

In the trade deficit, exactly in the severe and persistent oil money spill, taboo of ” do not add to the deficit” party.

?

2. Under the existing lavish Bush tax cut for bonus parties, a sole job plan for the republicans, the country already saw millions of job cuts.


Infrastructure, Again « The Washington Independent « Builder
Pingback posted October 12, 2010 @ 2:18 am

[...] This morning, President Obama held a meeting at the White House to press, again, for infrastructure investment. The time is right for massive infrastructure spending, the president said, because of the high rates of unemployment in … infrastructure – Google Blog Search [...]


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Obama Says `Crumbling’ Transport Infrastructure Hinders Growth of Economy – Bloomberg | The Fresno News
Pingback posted January 31, 2011 @ 12:00 am

[...] Touts Jobs in Infrastructure PushWall Street JournalCBS News -The Associated Press -The Washington Independentall 401 news [...]


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