Speaking of infrastructure, the American Society of Civil Engineers have released their latest “Failure To Act” report, and predictably, it isn’t the lead story in corporate media’s front pages and opening moments. But it should be, because we all pay the costs affiliated with ignoring our infrastructure deficiencies…
Isiah J. Poole writes:
But something that is costing each American family on average $3,400 a year is worth at least a few minutes of discussion – especially in the context of this Trump-besotted presidential campaign.
That is the money that the American Society of Civil Engineers (ASCE) said in its latest “Failure to Act” report that each US household is losing “each year in disposable income due to infrastructure deficiencies.”
Not adequately investing in infrastructure is costing the economy more than three times more than what it would cost to bring these systems up to a state of good repair. Seen another way, each family pays a $3,400 annual tax for what federal, state and local governments don’t spend to properly maintain and expand our transportation, water and electricity networks.
Closing the investment gap between what we’re spending now on the range of infrastructure needs – from roads and bridges to airports and waterways – and what we should be spending between now and 2025 would take about $1.4 trillion, the ASCE says. The cost of not spending that money, according to the ASCE? Almost $4 trillion. With that loss comes the loss of 2.5 million jobs.
Likewise, consider the plight of people who rely on public transportation. According to the report, more than 40 percent of buses and 25 percent of rail cars are in marginal or poor condition. The average transit bus has been on the road since Bill Clinton was president. Washington’s Metro system, whose recent troubles have gotten national attention, is suffering a lot of self-inflicted wounds, but one of its problems is that it is still running cars that were on the system when it opened in 1976.
(click here to continue reading The $3,400 ‘Tax’ You’re Paying That the Media Just Ignored – BillMoyers.com.)
from the ASCE report (which you can download in PDF form if you are curious or sanguine):
Every four years, the American Society of Civil Engineers (ASCE) publishes The Report Card for America’s Infrastructure, which grades the current state of national infrastructure categories on a scale of A through F.
Since 1998, America’s infrastructure has earned persistent D averages, and the failure to close the investment gap with needed maintenance and improvements has continued. When the next Report Card for America’s Infrastructure is released in 2017, it will provide an updated look at the state of our infrastructure conditions, but the larger question at stake is the implication of D+ infrastructure on America’s economic future.
The Failure to Act report series answers this key question — how does the nation’s failure to act to improve the condition of U.S. infrastructure systems affect the nation’s economic performance? In 2011 and 2012, ASCE released four Failure to Act reports in a series covering 10 infrastructure sectors that are critical to the economic prosperity of the U.S.
These reports were followed by a fifth, comprehensive final report, Failure to Act: The Impact of Infrastructure Investment on America’s Economic Future, which addressed the aggregate economic impact of failing to act in more than one sector. The purpose was to provide an aggregate analysis of the economic implications for the U.S. of continuing its current investment trends in multiple infrastructure categories. Failure to Act: Closing the Infrastructure Investment Gap for America’s Economic Future is an update to the Failure to Act comprehensive report; it addresses the current infrastructure gaps between today’s needs and investment and how they will affect the future productivity of industries, national competitiveness, and future costs to households.