Preserving the Nation’s Infrastructure Must Be a Top Priority of Leaders
Special to Roll Call
After spending 20 years in Congress and serving as secretary of Commerce under former President Bill Clinton and secretary of Transportation under President George W. Bush, I’ve seen a lot of elections and witnessed the transition of new administrations. I started my first term in Congress in the 1970s, a decade that saw rampant inflation and slow economic growth, an unprecedented combination that led to stagflation. Here we are, more than 30 years later, and once again America finds itself in a time of great economic turmoil.
Today, the number of families hit by unemployment is rising each day, and the first priority of the new administration and Congress must be to figure out how to get our economy turned around and people back to work. While infrastructure did not take center stage in the recent presidential election, my hope is that the stimulus package on which Congressional leaders are currently working will focus heavily on transportation and infrastructure projects.
Recently, Federal Reserve Chairman Ben Bernanke spoke cautiously on whether infrastructure spending would stimulate the economy in the near term, questioning “how much extra spending
and employment will you get from infrastructure projects that you would not have otherwise had.” He also expressed concern “that infrastructure projects usually take a long time to plan and develop ... so the actual implications for the near term are limited.”
According to the recent release of joblessness numbers put out by the Bureau of Labor Statistics, there are more than 10.1 million people in this country who are unemployed. As a former secretary of Transportation, I know that for every $1 billion that is spent on transportation projects, an average 37,000 new jobs will be created, with the aftermath of these construction phases typically creating 5,000 to 6,000 permanent jobs. I would also challenge Bernanke’s assertion that the nation would not see an immediate creation of jobs through infrastructure projects. There are cities, counties and states throughout the country with environmental impact statements and detailed plans completed and ready to go; yet these projects are languishing because of a lack of funding. If Congress approves an infusion of cash for these projects, there will be very little time before they are moving forward.
Job creation is only one factor to consider when discussing investment in the nation’s infrastructure. The Interstate 35W bridge that collapsed over the Mississippi River in Minneapolis during rush hour on Aug. 1, 2007, aimed a spotlight on America’s crumbling public infrastructure and evoked a strong public response. Too many of the nation’s railways, highways, bridges, airports and neighborhood streets are slowly decaying because of lack of investment and strategic long-term planning. Last year, the Federal Highway Administration deemed 72,000 bridges, or more than 12 percent of the country’s total, “structurally deficient.” But the funds to fix them are shrinking, and in September 2008, the Highway Trust Fund had a deficit, which the Congress corrected with an $8 billion infusion.
President-elect Barack Obama’s campaign platform included a commitment to revitalizing and strengthening the country’s core transportation infrastructure. He believes that America’s long-term competitiveness depends on the stability of the country’s critical infrastructure, and he has pledged to strengthen the country’s transportation systems, including roads and bridges. Obama has also stated that he will enter into a new partnership with civic, political and business leaders at the state and local levels to create a national infrastructure policy focused on how to upgrade the nation’s infrastructure to meet the demands of a growing population, a changing economy and short- and long-term energy challenges.
Schumer Advocates for Many on Panel
Nov. 16, 12 a.m.
As Senate Majority Leader, Lyndon Johnson once said of the Joint Economic Committee, “It’s as useless as tits on a bull.” But as that panel’s chairman during the 110th Congress, Sen. Charles Schumer (D-N.Y.) seized the opportunity to elevate the traditionally low-profile post to the forefront of shaping policy. Read Full Article
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