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 ...
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.
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.
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.
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...
“User fees....” I think that would be called Back Door CO2 Cap and Tax.
I suppose we will know what’s in the infrastructure legislation after it is passed too, huh? /s =.=
Oh btw, was it not TrumpkaIdiot who also proclaimed that ObamaCare was a “good thing”? =.=
Pretty much this. The infrastructure bank is a bunch of hooey.
It’s not spending, it’s investing!
Something tells me if they could do this honestly why did we bother publicly financing the highways with an obscene gas tax?
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.
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.
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