In 2008, I compared the positions of the two Presidential candidates, regarding advocacy for infrastructure improvements. Obama was better. So I was somewhat hopeful that we would see some pretty big changes, after he won the election.
Back then, I pointed out that the Department of Homeland Security considered the protection of critical infrastructure to be a high priority. I also said:
The gravest threats are the catastrophic ones: nuclear bombs, hurricanes, floods. But by far the most likely threat is nothing like that. The most likely threat is simple decay...The DHS is proposing that we refine our plan to protect the infrastructure. Fine. But without some additional investment, "the terrorists" won't have to do a thing. It will all fall apart on its own.
Tony Wikrent, writing on The Economic Populist, has summarized and commented upon the latest ASCE Report Card. He notes:
According to figures compiled by the America Society of Civil Engineers, a multi-year program of just repairing all existing U.S. infrastructure requires an additional $1.134 trillion dollars than already planned funding.
Mathematically-inclined readers might notice that the proposed cost is of the same order of magnitude as the cost of the wars in Iraq an Afghanistan.
A little more math, however, shows an important difference.
The cost that is shown is only the initial cost. But the cost
will continue to go up. By one
estimate, it will reach three trillion dollars. The
infrastructure improvements, however, would result in economic
improvements almost immediately. Furthermore, the benefits would
continue to accrue over subsequent decades.
Wikrent indicates the magnitude of economic benefit:
It is difficult to convey an impression of just how important this is. I encourage people to get an idea for themselves, by looking at the ASCE report card for their own states. This will show you things that directly impact your life, such as transportation, flood control, and waste management.
There are two potential goals for the spending of money: money can be spent to make good things happen, and/or to prevent bad things from happening. The ASCE proposals would do both. The wars only accomplish one, at most. Some people have argued that it doesn't even do that; they might be making us less safe.
Wikrent indicates the magnitude of economic benefit:
Using various employment multipliers specific to types of infrastructure (more discussion below), such a program spread over five years can be expected to create 4.605 million direct and indirect jobs.
It is difficult to convey an impression of just how important this is. I encourage people to get an idea for themselves, by looking at the ASCE report card for their own states. This will show you things that directly impact your life, such as transportation, flood control, and waste management.
There are two potential goals for the spending of money: money can be spent to make good things happen, and/or to prevent bad things from happening. The ASCE proposals would do both. The wars only accomplish one, at most. Some people have argued that it doesn't even do that; they might be making us less safe.
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The top 3 concerns listed for Massachusetts are roads, bridges, and mass transit. And yet, the only reason why my state will not be spending $9 million in federal stimulus funds to build a footbridge over Route 1 to connect properties owned by the Kraft Group is that the Obama administration objected, particularly in light of the amount of financial support his friend Deval Patrick received from the Krafts for his gubernatorial campaign. Meanwhile, heavily-used bridges & roads continue to crumble & the T continues to fall apart for lack of preventive maintenance.
I can't wait to vote that clown Patrick out of office.
Posted by: Finn | December 8, 2009 1:27 PM