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President Barack Obama has brought change to Washington, D.C. In this newly declared post-partisan era of politics, there is growing bipartisan opposition to the President’s economic stimulus package.
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As Washington considers a nearly $1 trillion economic stimulus bill to combat an increasing recession, with billions going to public works projects, governments worldwide will, at the same time, spend as much as $1.5 trillion annually for the next 20 years to make up for a lack of similar spending on infrastructure in years past.
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Most public transit systems throughout the country, even in cities that approved funding increases during the last election, are facing substantial budget shortfalls.
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Like so many other transit agencies around the country, the nation’s largest transit authority - New York City - is in the midst of a severe budget crisis and is facing a $1.2 billion deficit.
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As Americans have slashed consumer spending, congressional Democrats want to buy American with stimulus spending.
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In order to have an impact on the American Recovery and Reinvestment bill, the American Society of Civil Engineers (ASCE) released its 2009 Report Card for America's Infrastructure. Still, as the bill goes through Congress, little has been done to ensure that proper oversight will be applied to the funds devoted to spending.
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A week in review of infrastructure news by Rick Karr, Blueprint America correspondent.
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America lost 524,000 jobs in December. The unemployment rate, at the same time, is at a 16-year-high of 7.2 percent, the Bureau of Labor Statistics reported. There are currently 11.1 million unemployed throughout the country, which is nearly double the number out of work at the start of the economic recession a year ago. President Barack Obama has promised to sustain Americans in these hard times with an $825 billion economic stimulus package – the American Recovery and Reinvestment Bill of 2009.
(5 votes) Loading ...Transit funding has taken a big hit in the House version of the stimulus bill, and yesterday some bloggers were speculating that it was because House Transportation and Infrastructure Chairman James Oberstar (D., MN) had rolled over and allowed the money to go to tax cuts instead. But, the situation may not be as bad as it looks –- yet.
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