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 Here We Go Again Biden’s infrastructure plan will fail for the same reasons that Obama’s did

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RR Phantom

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Here We Go Again Biden’s infrastructure plan will fail for the same reasons that Obama’s did Vide
PostSubject: Here We Go Again Biden’s infrastructure plan will fail for the same reasons that Obama’s did   Here We Go Again Biden’s infrastructure plan will fail for the same reasons that Obama’s did Icon_minitimeThu Apr 15, 2021 6:10 pm

It will take a while for Congress to debate President Joe Biden’s $2.3 trillion infrastructure spending plan. It should take a while. The proposal is immense, in both its scope and its cost. But even before getting into the details, the plan contains a central flaw that will doom the whole effort: the use of corporate tax increases to finance the bill’s spending. This flaw not only jeopardizes the essential maintenance of all the new infrastructure the bill envisions; it will also discourage the follow-on private investment—what economists call “multipliers”—that is essential to the plan’s purposes. We know this because the same flaw doomed President Obama’s 2009 infrastructure plan.

Here We Go Again Biden’s infrastructure plan will fail for the same reasons that Obama’s did On-infrastructure-biden-is-repeating-obamas-mistakes

Never known for his originality, Biden has closely followed Obama’s infrastructure playbook (except perhaps for giving his plan a greener theme). He is even relying on the same three justifications: that “shovel-ready” projects will immediately trim unemployment rolls; that a refurbishment of the nation’s infrastructure is long overdue; and that government spending will “jump start” a broader economic surge as the private sector invests in opportunities opened up by the federal effort.

“Shovel ready” was nonsense in 2009 and remains so in 2021. Public hearings and zoning decisions hold up projects for months, sometimes years, and environmental considerations sometimes take even longer. As in 2009, there will certainly be employment opportunities for bureaucrats, consultants, and lawyers in the short term, but not for the guys with the shovels. Consequently, the urgent need for overdue refurbishment will have to wait as well. The only structures that went up promptly in 2009 were billboards announcing Obama’s grand plans. Such billboards are already popping up now with Biden’s picture on them.

.https://www.city-journal.org/on-infrastructure-biden-is-repeating-obamas-mistakes
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Here We Go Again Biden’s infrastructure plan will fail for the same reasons that Obama’s did PgkowJT
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