Congress Skimps on Roads, Providing Little Help for Caterpillar

[phantom power]

(Bloomberg) -- The morning rush in Philadelphia ran 30 minutes longer than usual earlier this month when a joint in the Interstate 95 roadway came loose, shutting part of the artery and causing traffic to back up at least two miles.

The U.S. House's transportation panel will hear from 19 witnesses tomorrow on boosting infrastructure spending after Speaker Nancy Pelosi asked committee chairs to suggest contents for a potential post-election economic stimulus package. While the California Democrat hasn't announced a spending target, a plan last month included $12.8 billion for roads. That wouldn't be enough to plug a $19 billion hole projected in the federal Highway Trust Fund next year.

http://www.bloomberg.com/apps/news?pid=20601209&sid=aH4ZGHi10tIQ

[madrchsod]

1. 3-4 month spending in iraq.....oh well

[phantom power]

2. I hope like hell we see a return to Keynesian economics in 2009

but I cannot figure out if that's really going to happen.

[depakid]

3. My guess is that we'll see that in action for a couple of years at least

in the states.

In Australia, Kevin Rudd has already been quite explicit about using Australia's hard won surplus to prime the pump. From what I can tell from the stimulus proposals floating about, the Obama administration is likely to follow a similar course, albeit with deficit spending.

One silver lining with respect to roads is that asphalt has gotten quite a bit cheaper! As have iron and copper.

[NNadir]

4. But if we do, I hope it goes for something other than highway funds.

The reality is that we need to wind down the car CULTure.

[phantom power]

5. No doubt.

At any rate, I would want investment to be spent on a much broader set of infrastructure upgrades. The list is depressingly long. Power grid, railroads, non-fossil energy, socialized health care, increased science and technology funding, rebuilding our educational system, sewer and water...

And, yes, roads too. Surface vehicles won't go away altogether.

One depressing thing is that all this now has to be deficit spending, thanks to 8 years of the GOP's fucking anti-tax something-for-nothing binge.

[NNadir]

6. I have a long rambling diary on car CULTure subsidies nearing completion

on the other website where I write. It's based on a subsidy post put here by P. (I referenced him.)

I am trying to decide whether to post it before or after the election.

I have no doubt that people will continue to embrace the car CULTure subsidy put in place by the Eisenhower administration. But ultimately, that CULTure will fail, leaving us with nothing but vast ruins and toxic waste.

I may publish it this weekend, I don't know.

[Kolesar]

7. They should raise the gas tax $19 Billion instead of adding to the public debt

Once again, the auto industry gets a free ride