Obama Should Commit to a Trillion-Dollar Infrastructure Plan


Barry Ritholtz passes along the chart on the right from the McKinsey Global Institute. It shows how much various countries spend on infrastructure compared to future demand. On the far right, Japan is spending a lot more than it needs. On the far left, the United States is spending a lot less.

McKinsey figures our shortfall at about 1 percent of GDP. That’s $160 billion. So a five-year project to build out our decaying infrastructure would cost roughly a trillion dollars. It would create jobs now; it would be ultra-cheap at current interest rates; and it would promote growth in the future.

That would be for roads, bridges, airports, rail lines, local transit, electrical grids, gas pipelines, internet backbones, water projects, and much more. A trillion dollars for infrastructure. That’s what he should be fighting for.

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate