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View Full Version : Obamas New Pork Wagon:Infrastructure (bank) in the Fast Lane



megimoo
09-03-2011, 06:50 PM
The fix is nearly in. There's a ballooning consensus in the nation's capital that America must begin serious spending on infrastructure. There's no need to draw on our maxed-out national credit card to pay for it all, proponents argue. User fees and the creation of an infrastructure bank to leverage private investment will provide an estimated $1 trillion in required upgrades.

Led by the Obama White House, the push for infrastructure spending has produced unlikely bedfellows. The U.S. Chamber of Commerce and AFL-CIO -- intractable foes on most other issues -- are one such pair. Tom Donohue, president and CEO of the Chamber, is agitating for fully funded highway, aviation and water-system bills, as well as an adequately capitalized infrastructure bank.

"We need action now…not after the next election," says Donahue. He estimates that 25 million Americans are either unemployed, underemployed or in such deep despair that they've stopped seeking work. Infrastructure spending over the next six years would create 1.5 million to 2.0 million jobs, he estimates.

http://online.barrons.com/article/SB50001424052702303807404576540474074988318.html