I’m still on the topic of economics today. How can we ignore the $28 billion that is being spent on building highways? President Obama claims this money will create 150,000 new jobs by end of 2009. Here are some excerpts from the Associated Press article.
“Transportation projects that were once on hold are now starting up again as part of the largest new investment in America’s infrastructure since President Eisenhower built the interstate highway system,” Obama said.
Outlining his plans for department employees, Obama said that just two weeks after he signed the $787 billion economic stimulus bill into law on Feb. 17, “we are seeing shovels hit the ground.”
States can begin using their share of the $28 billion road-building investment immediately, he said.
More than 200 highway construction projects also will be launched in the coming weeks, Obama said.
Of the 3.5 million jobs that Obama expects his economic recovery plan to save or create over the next two years, 400,000 of them will be targeted toward rebuilding the nation’s infrastructure — roads, bridges, schools, levees, dams, and commuter buses and trains, Obama said.
The president referred to it as a “21st century infrastructure.”
You can read why I think the stimulus plan and bonding go hand-in-hand here. Get more construction stats here.
Tags: bonding, building highways, construction industry stats, investment in America's infrastructure, road-building
Nice work! I’ll have to do a cross post on this one
Wonderfull…