The Stansbury Forum
The Web Of Debt Blog
Huffington Post, The Blog
In a landmark infrastructure bill passed in December, Congress finally penetrated the Fed's "independence" by tapping its reserves and bank dividends for infrastructure funding. The bill was a start. But some experts, including Congressional candidate Tim Canova, say Congress should go further and authorize funds to be issued for infrastructure directly.
Capital and Main
Former CA Governor Schwarzenegger once called it “stuff [I] used to blow up in the movies.” America’s infrastructure—highways, railways, bridges and thruways—now face a doom worse than the Terminator ever imagined: destruction from the rust, decay and corrosion of trillions of dollars worth of old tracks, canals, ports, structures and causeways that carry our trade and traffic all over the United States. Every $1 billion of federal investment creates about 13,000 jobs.
How will pay for high-quality transportation infrastructure, including roads, trains, bicycles, planes and other multimodal forms of transportation. Here are three under-reported infrastructure privatization issues we need to pay attention to. First, who actually benefits from and pays for infrastructure? Second, how are opinion makers talking about privatized infrastructure? Third, what is the quality of the process used to build large infrastructure projects?
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Economist Joseph Kile in written testimony has warned that "revenues from the users of roads and from taxpayers are the ultimate source of money for highways, regardless of the financing mechanism chosen." The significance of Kile's statement can be seen in the fact that one partner - the private sector - has almost no financial skin in the game. Meanwhile, the public partner - that is, the taxpayers - carries nearly the full financial burden.