Investment in infrastructure creates more “bang for our buck” than any other type of government spending. A study from the San Francisco Federal Reserve found that, on average, each dollar of infrastructure spending increased state GDP by at least $2 dollars; more than a 100% return on investment.
As President Obama mentioned in the State of the Union last month, Americans continue to drive over more than 60,000 structurally deficient bridges everyday. The lack of investment in infrastructure has left us in a crisis. In 2002, American infrastructure ranked 5th globalyl; by 2012 we were 25th, behind countries like Saudi Arabia, Barbados, and Spain to name a few. The American Society of Civil Engineers claims that without investing an additional $157 billion per year in infrastructure, the United States will lose over 3 million jobs and trillions of dollars in GDP by 2020. And we thought the $85 billion sequester was bad?
We must close our infrastructure gap to stay competitive. Today, China has over 20,000km of high-speed rail; compared to our one track. The port of Shanghai, handles more containers than the eight largest US ports combined. Sitting back and allowing our nation to fall further behind should not be an option.
We can choose to elect representatives who will maintain the status quo; who will not reform the entitlement spending that is bankrupting our nation. Or we can elect individuals that will make the necessary investments for our country to succeed. For the first time, this past election, more millenials (18-35) voted than senior citizens. As a generation, we must find our voice and make it heard in Washington. We must get out and demand bipartisan solutions to our nations problems and investments in our future!