Best of the Week
Most Popular
1.UK General Election Exit Polls Forecast Accuracy - Nadeem_Walayat
2.What's Next for the Gold Price? - Axel_Merk
3.UK House Prices Correctly Forecast / Predicted Conservative Election Win 2015 - Nadeem_Walayat
4.15 Hours to Save England from SNP Scottish Nationalist Dictatorship - Election 2015 - Nadeem_Walayat
5.Exit Poll Forecasts Conservative UK Election 2015 Win - Nadeem_Walayat
6.Gold And Silver China’s Pivotal Role: More Questions Than Answers. Not So For Charts - Michael_Noonan
7.Conservative Win 2015 UK General Election, BBC Forecast of 329 Seats - Nadeem_Walayat
8.Investing and the Lollapalooza Effect - Niels C. Jensen
9.Gold Price Target - Rambus_Chartology
10.Gold Price Nearing An Important Pivot Point - GoldSilverWorlds
Last 5 days
Why Do We Celebrate Rising U.S. House Prices? - 24th May 15
Mario Draghi’s Slippery Downward Slope - 24th May 15
Gold : Truth is Stranger than Fiction - 24th May 15
Facebook Stock Price Forecast - 24th May 15
Make a Killing on the Coming Energy "Debt Bubble" - 24th May 15
Stock Market SPX Uptrend Inflection Point - 23rd May 15
What You Know for Certain - Huge Demand for Gold And Silver - 23rd May 15
Are We in Another Credit Bubble? And Is It Different than Before? - 23rd May 15
The “Real Flash Crash” Will Scare You to Death - 23rd May 15
Venezuela: No Rule of Law, Bad Money - 23rd May 15
Robots That Can Beat the Market by 100% - 23rd May 15
Why Shake Shack Stock Is a Bad Investment - 23rd May 15
Gold Price Primary Driver Bullish - 23rd May 15
Time To Get Real About China - 22nd May 15
Gold Lifeboat to Global Economies “Titanic Problem” Warn HSBC - 22nd May 15
One Investment Could Save Two Generations' Retirements - 22nd May 15
Investing is About Identifying Gifted and Talented Camps - 22nd May 15
One of Europe's Latest Debt Nightmares - 22nd May 15
UK Immigration Crisis Could Prompt BREXIT, Propelling Britain Out of EU Despite German Factor - 22nd May 15
America Superpower 2016 - 21st May 15
Stock Market Secular Versus Cyclical Investing - 21st May 15
Banking Stocks Break Out with Higher Bond Yields - 21st May 15
The Tech Portfolio Built to Beat the Market - 21st May 15
Gold “Less Sexy” Than Bitcoin … For Now - GoldCore on CNBC - 21st May 15
The Russia-West Rivalry in the Balkans - 21st May 15
The US Dollar and the Precious Metals Complex - 21st May 15
Gold GLD ETF Drawdown Continues Unabated - 21st May 15
Who’s Killing the Stock Market? - 21st May 15
Your Best Way to Profit from the Narrowest Market in 20 Years - 21st May 15
Government Regulation and Economic Stagnation - 20th May 15
It’s Time to Hold More Cash and Buy Gold - 20th May 15
Choppy Asian Stock Markets - 20th May 15
Countdown to Global Financial Collapse - 20th May 15
Will Interest Rates Ever Rise? - 20th May 15
How to Cash in on Amazon Stock’s Amazing Cloud Success - 20th May 15
Three Hidden Forces Pushing Crude Oil Price Back Up - 20th May 15
U.S. Housing Market Strong Numbers in Perspective - 20th May 15
Greece Debt Crisis - Obama Has A Big Fat Greek Finger - 20th May 15
Now Is the Time to Own the Oil & Gas Leaders - 20th May 15
UK Deflation Warning - Bank of England Economic Propaganda to Print and Inflate Debt - 20th May 15
Trading Gold and Silver along with the Pros - 19th May 15
Gold Ticks Higher as London Housing Market Crash Looms? - 19th May 15
Global Stock Market, Commodities Group Analysis - 19th May 15
How Stock Investors Could Profit from the Dark Net Pattern That Few Others See - 19th May 15
The Patriot Act is now USA Freedom Act - 19th May 15
Investing in Europe? 5 Critical Insights to Boost Your Portfolio Now - 19th May 15
Gold Price Trend Forecast - 19th May 15
Stock Market Continues Defying Gravity, Dow New All Time High - 19th May 15

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Biggest Debt Bomb in History

Aging US Infrastructure

Politics / US Politics Aug 24, 2007 - 06:05 PM GMT

By: Dr_Ron_Paul

Politics The recent and tragic bridge collapse in Minnesota raises many questions in Americans' minds about our aging infrastructure, and what is being done to maintain it. Questions such as: "Was I-35 an isolated accident or are we approaching days when crumbling bridges and bursting pipes will be regular features on the evening news?"


The poor ratings on the inspection report of that bridge, and similar deficiency findings on as many as 25% of our bridges suggests the latter. Estimates on what it will cost to bring deficiencies in our infrastructure back up to par range from massive to astronomical.

Billions of tax dollars at all levels of government are devoted to infrastructure, but one problem is that politicians love to cut ribbons. Political capital is gained not from maintaining or repairing our systems, but from building new bridges, new stadiums, and new roads, often of questionable real utility. Seldom is there a ceremony or photo opportunity for repairing or maintaining something already in place.

As the so-called Highway Trust Fund is set to go bankrupt as early as 2009, private investment firms are gearing up for partnerships, which could be a positive step, if handled sensibly. What we need to avoid are items such as the Trans Texas Corridor (TTC), which is phase 1 of the NAFTA Super Highway. The Spanish firm Cintra is set to take over toll collections after the TTC's completion, however it is unclear that they'll have any obligations for maintenance. The cost is being socialized, while the profit is privatized, effectively making the American people pay for it twice.

Infrastructure, in a capitalist model, is an asset worthy of maintaining to ensure continuity of revenue. In a government controlled model infrastructure is nothing but a cumbersome liability. This should be taken into consideration when developing plans to keep our current infrastructure safe. Privatization should be used to encourage maintenance and safety, and where private companies truly invest and bear the upfront costs in return for ability to collect tolls or usage fees in some form. But public/private partnerships that look more like corporate welfare must be avoided.

We should re-examine how we handle the taxes we collect for infrastructure and how we allocate that money. At the very least reins need to be put on the Highway Trust Fund. Funds collected from the gas tax should go into the Trust Fund-- period.

Even the most ardent liberal and passionate conservative can agree that when they pay gasoline taxes, the least they expect is a road and bridge system that won't crumble beneath their feet. Before any subsidies or welfare payments are paid out, before social security is handed out to illegal immigrants, or health care is given to everyone, before bridges to nowhere are built at home, or entire countries bombed and rebuilt abroad, before any other myriad of exotic government projects are even considered, infrastructure should be attended to and taken seriously

 

Dr. Ron Paul
Project Freedom

Congressman Ron Paul of Texas enjoys a national reputation as the premier advocate for liberty in politics today. Dr. Paul is the leading spokesman in Washington for limited constitutional government, low taxes, free markets, and a return to sound monetary policies based on commodity-backed currency. He is known among both his colleagues in Congress and his constituents for his consistent voting record in the House of Representatives: Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution. In the words of former Treasury Secretary William Simon, Dr. Paul is the "one exception to the Gang of 535" on Capitol Hill.

Dr. Ron Paul Archive

© 2005-2015 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Biggest Debt Bomb in History