Today the American Society of Civil Engineers gives our airports, bridges, dams, water systems, grids, ports, railways, roads, and public transit a collective D+. The society estimates that $4.6 trillion in spending is needed to reverse this — $2 trillion more than it predicts will be spent. Within 10 years, the society forecasts, failing infrastructure will cost our economy almost $4 trillion and 2.5 million jobs. From clogged roads to decaying airports to toxic drinking water, our economic and civic health corrodes. The management consulting firm McKinsey & Company estimates that every well-spent infrastructure dollar would raise GDP by 20 cents. But systemic, political, and fiscal stagnation breed paralysis.
Source: Boston Globe