Easy Like Sunday Morning
Caught my eye...

Courtesy: Stapleton Denver
It started with a piece
from Forbes last May by Frank Holmes.
Quote:
As one of the greatest nations on the planet, the United States excels in a number of areas, innovation and entrepreneurship foremost among them. But something you might be hard-pressed to find at the top of anyone’s best-of list is infrastructure—specifically roads, rail and mass transit.
The World Economic Forum’s Global Competitiveness Report 2014-2015 ranks the U.S. 16th in “quality of overall infrastructure”—15th in quality of its rail system and 16th in quality of its roads.
Heavy news indeed for the country known for building the first-of-its-kind transcontinental railway and interstate highway system.
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Federal Reserve Bank of St. Louis via Forbes
Republicans used to love infrastructure spending; in fact it was very much a bipartisan affair. Notice how after Bush was elected infrastructure spending climbs near 2% of GDP, falls off and then climbs again. With the passage of the ARRA in 2009 it climbs to a peak of about 2.2% of GDP. As ARRA spending has faded so has the investment in the nation's infrastructure. This compares to 9% of GDP that the world's second largest economy is spending - China.
The problem stems from the new tea party flavored part of Congress. We spend about $700 billion on defense (including supplementals) per year but Congress can't see their way to put together an inadequate $50 billion transportation package. Congress needs to spend closer to $100 billion annually on infrastructure if not even more.
I have a fiscally conservative bent but deferring needed infrastructure investment is not conservative it's stupid. At a time of very low interest rates and falling materials costs we should be doubling down. That would be the wise thing to do instead of being "penny wise, pound foolish."