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Lack of Investment in U.S. Infrastructure - 8/10/15

America’s inability to invest sufficiently and regularly in its infrastructure costs us in many ways, including in the form of diminished student achievement, slower broadband speeds, flight delays and higher car maintenance costs.  A variety of studies point to rising maintenance costs that can be attributed to poor road conditions. 

As reported in the Wall Street Journal, TRIP, a transportation research group, has determined that the average American driver spent five hundred and sixteen dollars on repairs, depreciation, additional fuel and new tires in twenty thirteen, up forty five percent from three hundred fifty five dollars spent on average just three years earlier.  Analysts indicate that while there has been some improvement to the overall condition of bridges, pavement conditions continue to worsen. 

Many of the nation’s roads date back to the nineteen fifties and sixties and are showing their age.  During the early two thousands, the price of construction materials rose rapidly, causing many public agencies to postpone projects.  Then the Great Recession made its mark, producing sharp declines in transportation spending at state and local levels.  More recently, gridlock in Congress has produced additional gridlock on the roads.

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.