Mobility Infrastructure: A Better Stimulus Package

Stimulus packages are nothing more than an "economic sugar rush", according to columnist David Brooks. He argues that the country needs to create a larger-scale transportation-based infrastructure project to really bail out the economy.
November 3, 2008, 5am PST | Nate Berg
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"In times like these, the best a sensible leader can do is to take the short-term panic and channel into a program that is good on its own merits even if it does nothing to stimulate the economy over the next year. That's why I'm hoping the next president takes the general resolve to spend gobs of money, and channels it into a National Mobility Project, a long-term investment in the country's infrastructure."

"Major highway projects take about 13 years from initiation to completion - too long to counteract any recession. But at least they create a legacy that can improve the economic environment for decades to come."

"A major infrastructure initiative would create jobs for the less-educated workers who have been hit hardest by the transition to an information economy. It would allow the U.S. to return to the fundamentals. There is a real danger that the U.S. is going to leap from one over-consuming era to another, from one finance-led bubble to another. Focusing on infrastructure would at least get Americans thinking about the real economy, asking hard questions about what will increase real productivity, helping people who are expanding companies rather than hedge funds."

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Published on Friday, October 31, 2008 in International Herald Tribune
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