The cities want in, as David Miller noted here earlier. Their lining up for stimulus funds and the tab is getting pretty hefty, according to this Forbes report (h/t: Dean Alexander).
On Dec. 8, just two days after Obama’s pledge for massive infrastructure spending, the U.S. Conference of Mayors released an 803-page report–a wishlist of some 11,391 infrastructure projects they would love to press ahead with.Those cities that responded would like $17 billion for streets, $15 billion for water and sewage, $13 billion in community development grants, $7 billion for transit systems, $6 billion for energy projects, $4 billion for schools, $4 billion for public safety, $4 billion for airports, $2 billion for public housing and $1 billion for Amtrak infrastructure.
Here’s a partial list: Miami: $3.4 billion; Sacramento: $2.8 billion; Philadelphia: $2.6 billion; Los Angeles: $2.4 billion; Albuquerque: $2.3 billion. There’s plenty more.
December 23rd, 2008 at 11:09 am
Let’s at least provide a little context for your post.
It has been decided by the powers that be that a Keynesian policy is the way to go, that we can’t really go with Friedman because it would result in massive unemployment and the market forces got us into this mess and won’t get us out. Keynes says we need to spend our way out of deep recessions where normal forces can’t be corrective.
It has then further been decided that instead of more stimulus checks, that government spending should go into projects that will stimulate the economy AND create public goods. US infrastructure is resoundingly considered to be out of date and in need of repair.
The electricity grid would be a great place to invest, as it is thoroughly out of date.