Saturday, July 23, 2011

Going Nowhere ... Fast

"The Congressional Budget Office estimates that America needs to spend $20 billion more a year just to maintain its infrastructure at the present, inadequate, levels. Up to $80 billion a year in additional spending could be spent on projects which would show positive economic returns.

"Other reports go further. In 2005 Congress established the National Surface Transportation Policy and Revenue Study Commission. In 2008 the commission reckoned that America needed at least $255 billion per year in transport spending over the next half-century to keep the system in good repair and make the needed upgrades. Current spending falls 60% short of that amount." The Economist, 4/28/2011

Coincidentally, farm subsidies -- which raise food prices and skew markets -- cost taxpayers $20 billion a year.