Many roads and highways have exceeded their projected expiration date. Failure to Invest in America’s Infrastructure Imperils Economic Growth.
Investment in America’s infrastructure is critical to sustaining long term economic growth. In fact, there is no logical basis not to invest in infrastructure. Presently, we have a crumbling infrastructure. Despite a grade of D plus by the American Society of Civil Engineers, policy makers, namely conservatives, are reluctant to ramp up infrastructure investment.
Credible studies show that just $157 billion dollars additional investment per year between now and 2020 will save America $3.1 trillion dollars in lost gross domestic product. Additionally, such investment will protect 3.5 million American jobs and prevent a decline of $3100 in annual personal disposable household income.
Underinvestment in America’s infrastructure imperils all actors in the economy. Not only will transportation jobs be preserved with more infrastructure investment, but businesses will invest in areas where infrastructure is sound. In an era of rapid globalization, we can ill-afford the economic policies of austerity when it comes to infrastructure investment.
P. S. I’d like to thank all my followers and viewers for taking the time to read my blog. I plan on taking Labor Day off!
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Scott Ploof, The Progressive Paradigm