Infrastructure Investment: A State, Local, and Private Responsibility
Despite huge and ongoing budget deficits, some policymakers are proposing to increase federal spending on infrastructure.
President Obama on Thursday unveiled a new federal infrastructure initiative, and has been campaigning for Congress to pass a long-term highway bill. The president and other leaders believe that more federal spending on roads, rail, and other assets will boost growth and create jobs.
However, according to Cato scholars, devolving infrastructure activities to the states and the private sector is actually a more sound plan.
“Private firms can build and run roads, bridges, and transit better than the government,” writes Chris Edwards.
Randal O’Toole takes it one step further, firmly stating that the United States is absolutely not facing an infrastructure crisis, at least with regard to transportation.
“That’s just a story told by people who want to raise your taxes so they can get rich,” explains O’Toole.
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