As a road to a better economy, an old idea gains ground [View All]

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Source: L.A. Times

Reporting from Washington -- As recently as a few months ago, the idea of trying to bolster the troubled economy by pumping money into public works projects such as roads and bridges was dismissed as too slow -- not the quick pick-me-up that was needed.

But today, economists and policymakers are beginning to change their minds.

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Mark Zandi, chief economist of Moody's Economy.com, estimates that every dollar of infrastructure spending boosts the gross domestic product by $1.59.

Government and industry officials insist there are plenty of projects they can start quickly.

Jared Bernstein, a senior economist at the Economic Policy Institute, cited $100 billion in deferred maintenance and repairs at 16,000 public schools, involving such things as antiquated wiring and leaky plumbing. He said that most of the projects could be completed in 60 to 90 days.


Read more: http://www.latimes.com/news/nationworld/nation/la-na-infrastructure9-2008nov09,0,7223067.story