President Obama, belatedly, is coming out for a massive investment in public works projects, to expand and renovate the infrastructure of the United States!
He will announce on Wednesday the promotion of $50 billion investment on long term construction projects on roads, rail lines, and airport runways!
The projects would be over six years, with the goal being 150,000 miles of roads, 4,000 miles of railways, and 150 miles of airport runways. The investment would be over six years, with more funding as the years went by!
The problem is to gain Congressional backing, which means, unfortunately, it is unlikely any action will be taken this year, and should the Republicans win control of Congress, maybe they will refuse to support such legislation at all!
So the future of public works is debatable, just at a time when it is so urgent! 🙁
The New Deal concept of Franklin D. Roosevelt to promote public works improvement programs is essential for a long term revival from the Great Recession!