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Infrastructure (bank) in the Fast Lane
Barron's ^ | September 3, 2011 | JIM MCTAGUE

Posted on 09/03/2011 2:44:47 PM PDT by reaganaut1

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.

An infrastructure bank would sell construction bonds to pensions, endowments, hedge funds and other holders of big pools of cash. Taxpayers would capitalize the bank -- one early proposal called for an infusion of $10 billion. But the institution would attract private investment many times this.

"An estimated $250 billion is sitting around in private global investment funds that would like to invest in our infrastructure because they have a sure way of being paid," says Donahue.

"We're pretty much in agreement [with Donohue] that an infrastructure bank is a good thing, if properly funded," says Richard Trumka, president of the AFL-CIO.

(Excerpt) Read more at online.barrons.com ...


TOPICS: Front Page News; Government
KEYWORDS: infrastructure; infrastructurebank; obamajobsplan
You wouldn't start an article on an "infrastructure bank" with "the fix is in" if the idea weren't crooked. It is. If a highway is worth building, budget for it HONESTLY, not with Freddie/Fannie gimmicks. The congressional GOP had better not fall for this.
1 posted on 09/03/2011 2:44:49 PM PDT by reaganaut1
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To: reaganaut1

Gee I wonder what could go wrong with this idea? (sarcasm off)


2 posted on 09/03/2011 2:47:02 PM PDT by KantianBurke (Where was the Tea Party when Dubya was spending like a drunken sailor?)
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To: reaganaut1
If Richard Trumka is for it that's all you need to know. But yeah this is one of the doubledown tricks I expect from the Usurper. Not sure the GOP is smart enough to sink it.
3 posted on 09/03/2011 2:49:34 PM PDT by hinckley buzzard
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To: reaganaut1

This is intended to be a slush fund to finance projects that benefit Democratic Union workers, who will turn those “living wage salaries” into campaign donations, while saving Politicians in both parties the embarrassment of defending horribly expensive and wasteful Gubment projects through the normal budgetary process.


4 posted on 09/03/2011 2:52:24 PM PDT by Bean Counter (Obama got mostly Ds and Fs all through college and law school. Keep saying it.....)
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To: KantianBurke

What could go wrong? We can always use another slush fund to pay of Zero’s allies.


5 posted on 09/03/2011 2:52:35 PM PDT by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
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To: KantianBurke

What could go wrong? We can always use another slush fund to pay off Zero’s allies.


6 posted on 09/03/2011 2:52:52 PM PDT by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
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To: reaganaut1

By any other name that would be toll booths and ‘user fees’. And of course extending and raising the federal gas tax.


7 posted on 09/03/2011 2:53:56 PM PDT by Track9 (Make War!!)
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To: reaganaut1

Looks like Palin will have to round up the Chamber of Commerce too. That’s okay, their whole existence at the national level is about corporate crony capitalism.


8 posted on 09/03/2011 2:55:40 PM PDT by 9YearLurker
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To: reaganaut1

Didn’t we spend $800 billion two years ago on “shovel ready” infrastructure jobs? Wasn’t that a colossal failure?


9 posted on 09/03/2011 2:58:53 PM PDT by cc2k ( If having an "R" makes you conservative, does walking into a barn make you a horse's (_*_)?)
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To: reaganaut1

The GOP will sell us out again.


10 posted on 09/03/2011 3:13:02 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: KantianBurke

Yeah, an “independent” agency with a blank taxpayer credit card...... what is the wort that can happen?

Biggest political slush fund ever.


11 posted on 09/03/2011 3:15:42 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: reaganaut1

Union tools will be rejoicing at this...gotta wonder what the CoC sees in it????


12 posted on 09/03/2011 3:15:53 PM PDT by Drango (NO-vember is payback for April 15th)
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To: cc2k

Didn’t we spend $800 billion two years ago on “shovel ready” infrastructure jobs? Wasn’t that a colossal failure?

Agreed! If this is such a great idea, then why didn’t they use some of the 800 billion for it? It seems like every 2 years (elections) this administration comes up with expensive projects and gets lots of campaign contributions for scratching the backs of unions.


13 posted on 09/03/2011 3:26:08 PM PDT by marstegreg
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To: reaganaut1

Somebody please get Trumka and his goons some bibs. They are all drooling uncontrollably. Again.


14 posted on 09/03/2011 3:28:16 PM PDT by upchuck (Rerun: Think you know hardship? Wait till the dollar is no longer the world's reserve currency.)
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To: KantianBurke

Infrastructure Bank , more like a “Pork Barrel Bank”


15 posted on 09/03/2011 3:28:22 PM PDT by molson209
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To: reaganaut1
We're pretty much in agreement [with Donohue] that an infrastructure bank is a good thing, if properly funded," says Richard Trumka, president of the AFL-CIO. So the money will go to Unions then back to the dems! 'Cause if Trumka is for it!???
16 posted on 09/03/2011 3:33:32 PM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11)
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To: ColdOne

So the money will go to Unions then back to the dems! ‘Cause if Trumka is for it!???

“In 2008, organized labor’s get-out-the-vote efforts were critical to Obama’s election. And as the president’s reelection campaign begins its push to increase participation among the Democratic base, labor could play a big role.

But after a string of high-profile disappointments, including the president’s failure to push through bills overhauling immigration laws and making it easier to organize unions, Trumka said he has repeatedly warned Obama that union members may be less than energized about his reelection.”

http://nationaljournal.com/politics/trumka-warns-obama-focus-on-jobs-or-risk-losing-labor-support-with-video-20110825

This article was from August 25th. Afew days later he announce the ifrastructure bank with Trumka at his side. I wonder who REALLY came up with this idea?


17 posted on 09/03/2011 3:42:20 PM PDT by marstegreg
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To: reaganaut1

I just don’t see how something like this can be set up without the approval of Congress. This is really beyond the pale - Obama needs to be stopped, big time.


18 posted on 09/03/2011 3:51:02 PM PDT by existentialist
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To: Bean Counter

-——a slush fund to finance projects-——

or campaigns..... remember

The Democrat party is a criminal enterprise


19 posted on 09/03/2011 3:56:17 PM PDT by bert (K.E. N.P. +12 ....Rats carry plague)
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To: reaganaut1

.
It’s just a scheme to get around the debt ceiling LOL!

Heck, if another trillion for ‘infrastructure’- after just spending nearly a trillion- is such a winner sell it honestly... as more federal debt.

Yeah man: a vest and a ‘slow/stop’ pole for me and a bill for my progeny for a hundred years...


20 posted on 09/03/2011 4:01:27 PM PDT by mrsmith
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To: reaganaut1

Seems that a year or two ago, the mantra was “invest in education...”

Since that idea didn’t fly very well and their are no jobs to invest in educating for, they rehashed the plan and are now wanting to invest in infrastructure. Always looking for way to legitimize more government spending.


21 posted on 09/03/2011 4:02:21 PM PDT by bushwon ("If you think healthcare is expensive now, wait till it is free"--PJ O'rourke)
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To: reaganaut1
Tom Donohue, president and CEO of the Chamber, is agitating for fully funded highway, aviation and water-system bills

So sorry. We gave at the office, in 2009, to the tune of $767 billion. It's not our fault if ALMOST NONE OF THAT MONEY WAS SPENT ON INFRASTRUCTURE.

More debt? These people are insane.

22 posted on 09/03/2011 4:16:06 PM PDT by denydenydeny (The moment you step into a world of facts, you step into a world of limits. --Chesterton)
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To: reaganaut1
The “Infrastructure Slush [oops! met Bank] might happen. Not much construction going to happen for 2-3 years.

Got to design them and then get Wetlands Permits from USACE/ EPA, get mitigation approved by EPA for construction in air quality impact areas, hope there ain't any endangered species near by or any black slums and or barrios full of illegals {got to pass the “economic justice” hoop

} Obama bullsh*t is getting tiresome.

23 posted on 09/03/2011 4:21:30 PM PDT by texican01
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To: Jimmy Valentine

>>What could go wrong?

Quack, waddle...

Economy of the Soviet Union

[snip]
...Based on a system of state ownership, the Soviet economy was managed through Gosplan (the State Planning Commission), Gosbank (the State Bank) and the Gossnab (State Commission for Materials and Equipment Supply). Beginning in 1928, the economy was directed by a series of five-year plans...
http://en.wikipedia.org/wiki/Economy_of_the_Soviet_Union
 
 
..."from each duck according to its ability, to each duck according to its need"

24 posted on 09/03/2011 5:08:48 PM PDT by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: reaganaut1

“User fees....” I think that would be called Back Door CO2 Cap and Tax.


25 posted on 09/03/2011 5:10:25 PM PDT by steveab (When was the last time someone tried to sell you a CO2 induced climate control system for your home?)
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To: reaganaut1

I suppose we will know what’s in the infrastructure legislation after it is passed too, huh? /s =.=


26 posted on 09/03/2011 8:03:15 PM PDT by cranked
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To: reaganaut1

Oh btw, was it not TrumpkaIdiot who also proclaimed that ObamaCare was a “good thing”? =.=


27 posted on 09/03/2011 8:04:38 PM PDT by cranked
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To: Bean Counter
This is intended to be a slush fund to finance projects that benefit Democratic Union workers, who will turn those “living wage salaries” into campaign donations

Pretty much this. The infrastructure bank is a bunch of hooey.

28 posted on 09/03/2011 8:09:55 PM PDT by Longbow1969
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To: reaganaut1

It’s not spending, it’s investing!


29 posted on 09/03/2011 8:17:11 PM PDT by glorgau
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To: KantianBurke

Something tells me if they could do this honestly why did we bother publicly financing the highways with an obscene gas tax?


30 posted on 09/04/2011 1:04:14 AM PDT by Monorprise
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To: reaganaut1

This is just another avenue for government to control more of the private sector with the attending corporate socialism.

It’s GE-Obama on a much grander scale.


31 posted on 09/04/2011 8:06:43 AM PDT by headstamp 2 (Time to move forward not to the center.)
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To: reaganaut1

This is just another avenue for government to control more of the private sector with the attending corporate socialism and union theft.

It’s GE-Obama on a much grander scale.


32 posted on 09/04/2011 8:08:12 AM PDT by headstamp 2 (Time to move forward not to the center.)
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