Politics and Infrastructure - 10/4/16
Americans don’t seem to agree upon much these days from the perspective of economic policymaking, whether the subject is taxes, regulation, interest rates, free trade or immigration. But one area of growing consensus is infrastructure.
As an example, as reported by the New York Times, Democratic nominee Hillary Clinton has indicated that if she is elected president, her administration would seek to spend two hundred and fifty billion dollars over five years on repairing and improving America’s infrastructure.
This includes investing in roads, bridges, energy transmission systems, water supply, and high speed broadband. Secretary Clinton has also indicated that her administration would put an additional twenty five billion dollars toward a national infrastructure bank to spur related business investment.
Her Republican challenge Donald Trump has said that he wants to go even bigger, indicating that his administration would spend at least twice as much as a Clinton administration.
This political dynamic combined with growing agreement among economists regarding the virtues of increased spending on infrastructure has helped produce a building confidence that a large-scale public works push is coming to America regardless of who is elected.