How Big Is the Transportation Budget?
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Friday, 27 January 2012 06:54 |
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The Washington Post tells us that Congress is considering a transportation bill that will spend $260 billion over the next five years. It would have been helpful to tell readers that this is equal to roughly 1.3 percent of projected spending over this period. It is a bit more than 3.7 percent of projected discretionary spending over this period.
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The American Society of Civil Engineers has estimated that we have over 2 trillion dollars of infrastructure work that needs to be done and that the current state of our infrastructure will cost Americans over 100 billion dollars this year due to inefficiency.
The cost of not fixing our infrastructure needs to be front and center in any discussion of how much money we need to spend.