There is no substitute for infrastructure when it comes to creating jobs. There are 4 distinct advantages in borrowing any amount of money from anywhere to build USA’s infrastructure. 1. It creates and keeps jobs in this country. 2. Infrastructure will promote our own growth. 3. It will be here for our grandchildren. 4. It will promote manufacturing within our borders –we can’t import ready-mix concrete.
Civil engineers have been crying for investment in infrastructure for decades. Australia invested heavily in infrastructure, schools, and research in the last decade. Guess who was not hit by the Global Recession? The estimated cost to keep our infrastructure in a safe condition was $1.6 Trillion in 2005 and is over $3 trillion now. Only a third of the $800 billion Stimulus -that did create jobs and turn the recession around- went to building anything. The rest went to tax cuts, saving jobs and unemployment. Meanwhile we have bridges collapse, FAA defunded, NOAA funds cut, NASA closed, and dams and levees failing. India is ahead of us in technology, research and growth. We are now a third world country.
The solution lies with Congress. The 112th Congress has not passed a single bill creating a single job. They have been busy paying back the extreme right wing by focusing on abortion, gay rights and tax cuts to the wealthy. Billionaires like Steve Jobs create jobs by building a HQ in Cupertino instead of Cayman Islands. Job creators are manufacturers like Jay Lee who is exporting chopsticks to China.
Infrastructure spending will create jobs and turn the economy around. We need the Infrastructure Bank NOW and I am sure foreigners and hedge fund managers and billionaires will invest in our infrastructure because it pays back for years to come. Government - We the People create jobs. We have 2 choices. Stand with the President and move the country forward or let this congress hand the country over to our own version of the Ayatollah. Yes We can build our future now.