Economists want to spend money on our broken infrastructure. In fact, in the latest survey asking leading economists across the nation if they would increase spending on fixing our infrastructure, all 44 agreed. A report by the American Road and Transportation Builders Association estimated that roughly 1 in 10 U.S. bridges, more than 63,000, are in urgent need of repair. Last year, in its annual report card, The American Society of Civil Engineers gave the nation’s infrastructure a D+ grade. The study also estimated the U.S. would need $3.6 trillion in investment by 2020 to deal with its infrastructure problems. But just where would we get this money from?
Tag Archives: Trade Deficit
For decades now, we have seen our economy struggle to recover jobs that have been lost to outsourcing. We must now come to the reality that our failed trade policies are destroying our economy.
When President Obama took office on January 20th, 2009, the total federal debt was over $10 trillion. As of July 2014, it has rise to over $17 trillion. That means that so far during President Obama’s term, our debt has increased more than $7 trillion, far more than any previous president. This is seriously bad news for American citizens since this means higher taxes and more debt.