Infrastructure Rehab

Independent Senator from Vermont, Bernie Sanders, is urging federal support for a five year, $1 trillion infrastructure rehabilitation program. And of course the cynics in Washington DC (and elsewhere, too!) wonder where the money is coming from.

Actually, I think that part is very simple: it will be paid for with funds gathered by selling Federal bonds and treasury bills. It will be a mortgage on our national future with which to buy renewed bridges, overpasses, highways, airport upgrades, rail infrastructure modernization and rehab, expanded smart electric grid, upgraded sewer and water treatment facilities and networks, and a whole lot more. A mortgage. Just like the mortgages Congress has taken out for wars and other programs. Only this mortgage buys real things that act like an investment in our nation's economic future.

So much of our public infrastructure is nearing collapse.This truth is uncomfortable. It is also sad, that we can pay for nonsense programs and incur trillions in debt. But for some reason infrastructure replacement or maintenance is not a politically correct thing all of a sudden? Since when?

And cost overruns on defense systems take countless billions annually while we watch the backbone of the nation fall apart. Infrastructure is used by everyone and for everyone. It is also paid for by everyone. Always has been.

And that’s how the bonds and treasury bills we be repaid – from increased revenues, profits and taxes paid on them by a re-invigorated economy. At least these expenditures will earn a return on investment to retire the public debt created to incur them. How novel!

Utility firms will claim they pay for their own infrastructure, but that isn’t true. Customers pay for it. Government subsidizes it, too. Always has. Always will. Let’s speak the truth about these things at long last.

Another truth: rebuilding or refurbishing our infrastructure will create jobs for construction workers, trades unionists, trucking firms carrying building supplies, building supply firms, and so many other segments of our economy. A five year $1 trillion boost to economic activity will help increase job creation and end the recession.

The renewed infrastructure will also boost the economy’s efficiency, create even newer investments in other industries, and help boost the middle class. The new jobs, reduction in unemployment, and renewed investment will expand the economy and boost retail sales of goods and services. More money in the economy will generate more sales. Pretty simple.

Plus the investment in our society’s capital goods will produce new wealth with which to build more wealth. That’s how the economy works. Not trickle down. Trickle up!

I guess if you are a republican it is OK to place the nation in long term debt for programs that boost military spending, pollution, dependence on foreign oil, and building jobs for wealthy corporate owners. The rich get richer; the poor get poorer. Pretty soon the middle class is exhausted and disappears. Too bad, huh? Guess Walmart will continue to keep the bottom rung market to itself. At least the stock owners of Walmart make out great.

It seems evident to me that the long term effect of government policy should be to improve the stability and quality of life for all of us. Not just the rich. Not just the poor. All of us.

The system needs to be in balance – what goes into it should come out as well, only improved.

If we put our heads together and pull in the same direction for once, we might just find progress will be gained on this long term goal. Education accessibility for everyone to the level they are competent to achieve, skill development and acquisition to the extent each person wants it and is willing to work for it, and the economy needs it, medical care for each person fit to their unique needs, and so much more.

Let science and research solve the energy puzzle. The answers are tantalizingly close. However, entrenched industries leverage government decision makers (congressmen and senators!) to minimize threats to old industries and the wealthy families who own them.

Peace is a long term goal. International relations is a social science that can yield peace dividends. And peace yields dividends of another sort – lower defense spending and more resources available for education, research, medical care and so forth.

Balance. It is what is needed. In political views. In the privacy of religious views (not government sponsorship and legislation!) Sharing the load, too, in maintaining our social investment in infrastructure. It benefits all of us. It needs our support to maintain it, keep it modern and reliable.

Focus on the long term and support infrastructure revitalization. We might be amazed at the dividends such trust and investment will provide.

February 4, 2015