Obama's bridge, train and road fix

[Heracles 417]

$50 billion is quite anemic though. Considering the "The nation now has a backlog of some $2.2 trillion in projects that need funding" to reach the equivalent of other first world countries.

I guess $50 billion is a good as it gets from some who seem to have a huge disdain with investing in the same country they love so much. Let alone getting the country back to first world levels, forgetabout beating as it's..... UnAmerican!

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Obama's bridge, train and road fix

Obama is proposing an "infrastructure bank" that might take the pork out of road building.

By Steve Hargreaves, Senior writerSeptember 8, 2010: 2:53 PM ET

NEW YORK (CNNMoney.com) -- Government transportation spending is full of costly boondoggles.

President Obama is proposing a way out of that. As part of a wider spending program he detailed Wednesday that includes tax breaks for businesses and $50 billion in infrastructure spending, the president is floating the idea of an "infrastructure bank."

An infrastructure bank is designed to leverage public money with private funds, creating much more bang for the taxpayer buck. It's also designed to take politics out of infrastructure spending by moving the decision making away from Congress to an independent panel. Think of it as a way to avoid more bridges to nowhere.

The idea garners support from transportation experts of all ideological stripes.

"For every dollar you spend, you get substantially more investment," said Bracken Hendricks, a senior fellow at the left-leaning Center for American Progress who specializes in energy and infrastructure. "It's really a smart way to do it."

While the bank faces strong opposition on Capitol Hill, here's how it might work:

Obama offered little in the way of details on how the bank would be funded or structured. But Emil Frankel, a former transportation expert in the administration of George W. Bush and now director of transportation policy at the Bipartisan Policy Center, said it could be started with an initial investment of maybe $2 to $4 billion.

That money would be used to guarantee loans for private capital on projects the private sector is interested in funding. That would include any infrastructure with a revenue stream like toll bridges and highways, Internet cables, or high speed rail.

Frankel said loan guarantees allow private firms to access capital at low interest rates. They generally result in garnering about 10 times the investment for each dollar of government money - so $4 billion in guarantees would generate $40 billion in spending.

The money is certainly needed.

Engineering groups have long criticized the country for neglecting its infrastructure. The nation now has a backlog of some $2.2 trillion in projects that need funding, according to the latest report from the American Society of Civil Engineers.

"If we rely solely on public money right now, we're really in trouble," said Hendricks. "We're nowhere near to closing that gap."

Another benefit to the bank is that it takes infrastructure decisions out of the sometimes pork-soaked hands of politicians and puts them in those of transportation experts.

"We need a source of funding for major projects that's not dependent on partisan politics," said Ken Orski, publisher of the infrastructure newsletter Innovation NewsBriefs and a former transportation official in the Nixon and Ford administrations. "This is a good idea."

But that very concept may be a source of the bank's undoing.

In addition to the usual concerns over too much spending in a time of massive deficits, the bank faces considerable opposition from Congress members concerned about their loss of power.

"Congress would lose their ability to fund major infrastructure projects," said Orski, who added that there are big concerns about "delegating major investment decisions to unelected bureaucrats." To top of page

[The_Dude 1,142]

It's been quite some time since our infrastructure has been upgraded. They should have done this to begin with instead of a lot of that ####### they doled out money for in the original stimulus package.

[^_^ 5,021]

The original stimulus was supposed to be largely infrastructure. But by the time the Blue Dogs (GOP lite) were done with it, it was mostly gone.

Given that we have as many Blue Dogs in Congress today as we did then, and given the fact that after this November we'll likely have the next worse thing - Republicans - controlling Congress.... fuhgeddaboutit. It ain't happpening.

And besides, America ain't communist. We're all about individuality here. You wanna fly to LA and not spend hours at the airport? Buy your own jet and use a private airport. Don't have the money? Get a freakin job, ya bum.

[Darnell 8,478]

hey - 50 billion is 50 billion.

I'm only too happy if the materials are made in USA, as the 'roots and tree' spending then becomes more than 50 billion, helping out the entire supply chain.

[^_^ 5,021]

I'm only too happy if the materials are made in USA, as the 'roots and tree' spending then becomes more than 50 billion, helping out the entire supply chain.

True. And also, let's not forget - the increased capacity in our roadways and airways and railways that can result from this will allow us to do more. More economic activity. This is not a bad thing.

[Heracles 417]

The problem with the last stimulus is that it's simply not enough, nor was there any stipulation for what it should be used for.

That said, am willing to bet a significant percentage of the few jobs created were carried out by illegal aliens. A stimulus only works when the citizens and legal residents of the country are able to access jobs. It all goes out the window the second people working under the books not only do the jobs but then siphon the money back to their mother country.

Good luck in trying to illustrate this to anyone who simply has the default attitude of you're anti-brown on such issues. Furthermore, refuses to accept or listen to any reasoning [whatsoever], nor cares to learn about why the average Joes' in other countries are simply killing it, even in this global recession.

On one hand you have the right who thinks investing in your country is worse than the Holocaust, talks about the private sector but has FA in examples to back it up, apart form UPS. On the other you have the left who is still driven by pie-in-the-sky Utopian ideals, like open the borders and let them all in; because there are just so many well paying jobs in this land.

The poor in this country have little chance.

Edited September 8, 2010 by Heracles

[^_^ 5,021]

I don't know, Heracles. When I've driven by construction crews on Route 287 right by those big ARRA banners, I don't see much brown. Maybe they're hiding their brown people.

[alienlovechild 75]

The original stimulus was supposed to be largely infrastructure. But by the time the Blue Dogs (GOP lite) were done with it, it was mostly gone.

Given that we have as many Blue Dogs in Congress today as we did then, and given the fact that after this November we'll likely have the next worse thing - Republicans - controlling Congress.... fuhgeddaboutit. It ain't happpening.

Only 14% of the final stimulus bill went to transportation and there weren't many shovel ready projects in a field that takes years to deliver a project. A lot of repaving happened.

Edited September 8, 2010 by alienlovechild

[Heracles 417]

I don't know, Heracles. When I've driven by construction crews on Route 287 right by those big ARRA banners, I don't see much brown. Maybe they're hiding their brown people.

It's not about brown or white. Anyone working on any public project should have their status - right to work - verified. The country is hurting badly, so there is no excuse for anyone apart from an American to have a job.

Like I have pointed out many times before, the reason all sorts of workers earn such decent salaries in AUS is because the labor market is tight. Restrict illegal aliens and companies will have to pay higher salaries. Also lift the minimum wage to something reasonable like $13 an hour and the money will flow back into the economy.

Edited September 8, 2010 by Heracles

[^_^ 5,021]

It's not about brown or white.

I don't know, Heracles. When I've driven by construction crews on Route 287 right by those big ARRA banners, I don't see much brown. Maybe they're hiding their brown people.

That said, am willing to bet a significant percentage of the few jobs created were carried out by illegal aliens.

...

Good luck in trying to illustrate this to anyone who simply has the default attitude of you're anti-brown on such issues.

You were the first to bring up illegals and race in this thread. Don't tell me it's not about race when you're the one who brought it up.

[Heracles 417]

Only 14% of the final stimulus bill went to transportation and there weren't many shovel ready projects in a field that takes years to deliver a project. A lot of repaving happened.

Well the repaving was needed too, but not the ideal stimulus is to create large scale infrastructure projects like Hoover Dam, or the interstates, in the 50s/60s. Or even Regan international airport, which to my surprise was part of the new deal.

Repaving should be paid for by the user. Yes, this means adding the actual cost to fix and maintain roads to the cost of gasoline, in order for the user to actually pay for the wear and tear.

You were the first to bring up illegals and race in this thread. Don't tell me it's not about race when you're the one who brought it up.

No I brought up illegals because the 20 million of them have and are negatively affecting this economy. I then anticipated the bullcrap horseshit excuses you guys will use to defend them.

Edited September 8, 2010 by Heracles

[^_^ 5,021]

No I brought up illegals and the bullcrap horseshit excuses you guys use to defend them.

We're much more concerned with attacking you than we are with defending them. House secret.

[Heracles 417]

We're much more concerned with attacking you than we are with defending them. House secret.

Worse kept secret ever. Bud, people like you is why I still come back here, as I get a kick out of seeing you guys defend things with bullcrap. Reinforces how much better and smarter than you guys I am. Like many, once I have owned you, I enjoy seeing you run off to the mods and cry like children to get members banned. I enjoy seeing you move the goal posts, only to have me kick a goal in yet again. Pick a strategy you have used and I have bet it.

I love having the power to know that I can post a few words and have you cry murder. Whereas, after years of trying various tactics on me, I still just brush even the best of ambushes off, like lint on my $100 shirt.

Next..

Edited September 8, 2010 by Heracles

[^_^ 5,021]

Like many, once I have owned you, I enjoy seeing you run off to the mods and cry like children to get members banned.

Moderation is only invoked when you are perceived to break TOS. One would think an airport trinket vendor of your impeccable intellect would do a better job of staying within the limits of TOS.

[The_Dude 1,142]

Worse kept secret ever. Bud, people like you is why I still come back here, as I get a kick out of seeing you guys defend things with bullcrap. Reinforces how much better and smarter than you guys I am. Like many, once I have owned you, I enjoy seeing you run off to the mods and cry like children to get members banned. Yep, without fail.

I love having the power to know that I can post a few words and have you cry murder. Whereas, after years of trying various tactics on me, I still just brush even the best of ambushes off, like lint on my $100 shirt.

Next..

That's your idea of what it is to pwn someone? You are a little out of touch there BY.