Good Bob Herbert column today:
We appear to have forgotten the lessons of history. Time and again an economic boom has followed periods of sustained infrastructure improvement. It’s impossible to calculate all of the benefits from (to mention just a few) the Erie Canal, which connected the Great Lakes to the Atlantic Ocean and helped make New York America’s premier city; the rural electrification program and other capital improvements of the New Deal; the interstate highway program of the Eisenhower administration.
The tremendous costs and vast reach of today’s infrastructure requirements means that the federal government has to take a leadership role. It’s inevitable. The only question is when.
The Dodd-Hagel infrastructure bank is a solid proposal. More of that, please.