[QUOTE=Soundgod;1096923]This country needs a 21st Century WPA in order to rebuild the bridge “FROM” the 20th Century!
Embark on the systematic reconstruction of our roads, bridges, sewers, electric grid, and public buildings and there will be plenty of work for the construction industry, which will ripple through the rest of the economy and put almost everyone back to work.
Even better, when they finish the roads and bridges in 10-15 years, it will be time for the first round of updates and repavement.[/QUOTE]
We already spend about a trillion dollars every 5 years on infrastructure constructions (roads, bridges, tunnels, etc), Have been for close to 50 years now…that is a lot of stimulus.
What we have gotten is a lot of roads, bridges and tunnels to nowhere (or at least a lot of money spent on under utilized infrastructure that then needs to be kept up).
Every dollar the government spends it has to take out of the economy. Usually it is taken from the efficient and effective growing part of the economy. Government stimulus is hardly ever as effective or efficient than private sector spending.
I leave you with FDR’s Treasury Secretary (and architect of the New Deal) Henry Morgenthau, Jr statement to Congress as to the effectiveness of programs like the WPA: “We have tried spending money. We are spending more than we have ever spent before and it does not work. . . . After eight years of this administration we have just as much unemployment as when we started . . . and an enormous debt to boot!”