Slim-ulus
Kazys Varnelis (via bldgblog) runs the stimulus numbers (his comments are in italics):
Modernize Roads, Bridges, Transit and Waterways: To build a 21st century economy, we must engage contractors across the nation to create jobs rebuilding our crumbling roads, and bridges, modernize public buildings, and put people to work cleaning our air, water and land.
· $30 billion for highway construction;
· $31 billion to modernize federal and other public infrastructure with investments that lead to long term energy cost savings;
· $19 billion for clean water, flood control, and environmental restoration investments;
· $10 billion for transit and rail to reduce traffic congestion and gas consumption.
Here is the meat of the proposals for infrastructure…and it’s pretty lean. $30 billion is less than one year’s expenditure on highways. $10 billion for transit and rail isn’t that much when just one crucial project, the Trans-Hudson Tunnel, is slated to cost $9 billion.
Reading the expanded version of the memo, things start to look positively grim.
· Upgrades and Repair: $2 billion to modernize existing transit systems, including renovations to stations, security systems, computers, equipment, structures, signals, and communications. Funds will be distributed through the existing formula. The repair backlog is nearly $50 billion.
· Amtrak and Intercity Passenger Rail Construction Grants: $1.1 billion to improve the speed and capacity of intercity passenger rail service. The Department of Transportation’s Inspector General estimates the North East Corridor alone has a backlog of over $10 billion.
· Airport Improvement Grants: $3 billion for airport improvement projects that will improve safety and reduce congestion. An estimated $41 billion in eligible airport infrastructure projects are needed between 2007-2011.
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This entry was posted on Thursday, January 15th, 2009 at 5:03 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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January 16th, 2009 at 7:58 am
We have fallen so far behind as our dependence on single occupant motorized vehicles grew. Like our financial picture, the infrastructure deficit is deeper than most realize. The debates to come on how to address these issues will be fierce and expose a highly divided country on what makes for prosperous, livable and civil communities. The perfect storm has crippled our financial markets and now we have a need to repair and upgrade our infrastructure which requires more capital.