DECAMERON: LET THE BUILDING BEGIN -- IN THE USA

 

Bloomberg news: "Trump promised during his campaign to introduce a $1 trillion proposal within his first 100 days in office, then the administration said there’d be a plan by the third quarter. That didn’t happen..."

"The president aims to release a detailed document of principles, rather than a drafted bill, for upgrading roads, bridges, airports and other public works before the Jan. 30 State of the Union address, said the administration official, who spoke on condition of anonymity because the details aren’t public. Naysayers should wait until they see the details and how the legislative process unfolds, the official said."

"The White House plan is essentially complete and Trump recently reviewed it, the official said. It calls for allocating at least $200 billion in federal funds over 10 years to spur at least $800 billion in spending by states, localities and the private sector."

https://www.bloomberg.com/news/articles/2017-12-07/trump-is-said-to-ready-infrastructure-plan-for-january-release

The Hill reported, Dec. 5 from the Bipartisan Policy Center's Gov. Ed Rendell: 

"One of the impediments that has to be changed is how we score under our budget act. The European Union has its own infrastructure bank where loans and loan guarantees are doled out to important projects. They charge a very modest interest rate, and they make a small profit. If we were to construct such an infrastructure bank, under current rules, those loans and loan guarantees would be scored as spending even though there would be a track record showing that the overall program never spends money but actually makes a small profit. In some ways, I feel like a lone voice in the wilderness (although I was happy to hear that the “Problem Solvers” congressional caucus may also recommend a federal capital budget), but it’s the only real solution."

"For those who say, “let the states do it,” know that the states are trying. Twenty-five states, both red and blue, have increased their gas tax in the last three years. The states simply do not have enough money to do it alone. For those who say, “let the private sector do it,” they forget that the private sector must have a reasonable rate of return before it invests in anything, and most infrastructure projects cannot give them one. For example, there are 60,000 structurally deficient bridges in America. No more than 100 of them have enough traffic that could generate toll revenues enough to supply that return. This leaves 59,900 that need repair that must be done with government investment."

https://bipartisanpolicy.org/article/ed-rendell-this-is-the-only-solution-to-fixing-americas-crumbling-infrastructure/

When POTUS Trump made his Jerusalem announcement, he boasted that other presidents "promised." but POTUS Trump "delivers".  Why did Jerusalem come before infrastructure?  America First?  BHO promised infrastructure in 2008.  Congress allocated nearly $1 trillion in "stimulus"  in 2009.   Potholes were fixed; bridges weren't rebuilt. No infrastructure.  Deja vu? -- Decameron

Comments

[Jack]

California ain't Europe. What do you think the density of population and urbanization is between Stockton and Bakersfield? I can assure you it ain't what it's like between Paris and Brussels. I agree with blue peacock that this is a giant boondoggle, Brown's vanity project that will cost at least 3x to 4x what is projected and will be a massive failure in terms of ridership and return on investment.

California would have been much better off if they spent that money instead on improved mass transit in Los Angeles and Orange counties where there is population density. But that ain't sexy for the liberal elite who would never ditch their Gulfstreams in any case.

[Fred]

Imagine,

What is the immigration rate in Japan?
"When the PTA can write multi-million-dollar PAC checks...."
It takes mere seconds to find out how many millions of dollars teachers' unions have donated to politicians and which party affiliation they have:
https://www.opensecrets.org/orgs/summary.php?id=d000000064

"...we'll see emphasis being put on schools and the next generation..." Have you seen the news about college campuses denying free speech? That's a direct assault on a founding principle of the Republic.

"we get the country we deserve, because we let it happen"
You sure did. That's how America got Trump.

[Bill H]

While yet another of our endless and countless "public initiatives" is underway to repeal the new gas tax, not because the roads don't need fixing but to punish the legislature for misspending the funds from the last gas tax. And no fewer than two such initiatives are on the next ballot for what put in place of the Chargers stadium in Mission Valley. If voters are in favor of both, the one with the most votes win, but neither has more than 30% favorability in the polls. God help us all.

[Decameron]

The funds for infrastructure investment cannot come from an operating budget, neither state or federal, IMO.  President George Washington and his Treasury Secretary Alexander Hamilton used a National Bank to build the
nation's infrastructure through directed credits. Private investors were able to purchase both bonds and stocks in the first and second National Banks and this was essential to the early republic. Reading Hamilton's three seminal documents, Report on Manufacturing,
Report on Public Credit, and Report on the National Bank, is enlightening.  

[Hood Canal Gardner]

Ok, where to start?

Replacing/upgrading urban/rural leaking sewage lines; potable water treatment facilities; replacing lead water piping? Or upgrading-constructing river/ocean water levees to 500 yr "Dutch" standards? Resuscitating New Deal WPA soil, water, mineral conservation projects on public and private lands.

Or just maybe, assuming there is some morality left among the pointy heads here (me as well!), there is the "small" matter of rebuilding the Middle East devastation we have our fingerprints and blood all over/and clearing the ordinance 'we've left/are leaving behind.'

For the defense/military addicted...for this old grunt who put in his time there isn't enough tax money/plunder to put in place/maintain a national defense that comes close to equaling or Trumping the national defense afforded by the two oceans that flank our coasts. Ie, serious money is available for work that is waiting here at home.