Alabamian

A Southern Point of View
 
HomeHome  FAQFAQ  RegisterRegister  Log in  

Share | 
 

 “Pass the bill” – if only for things like this

View previous topic View next topic Go down 
AuthorMessage
The Propagandist
Sonneteer
avatar

Virgo

Posts : 68
Join date : 2011-06-20
Location : Tuscaloosa, Alabama

PostSubject: “Pass the bill” – if only for things like this   Wed Sep 14, 2011 8:58 am

Quote :
U.S. NEWS
SEPTEMBER 14, 2011
Midwest Jammed by Bridge Closing

A bridge closing along an interstate highway at the heart of "automobile alley" has snarled traffic in metropolitan Louisville, Ky., as businesses through the center of the country girded for delays.

"This is going to be a significant impact not just on Louisville but across the Midwest," said Becky Ruby Swansburg, spokeswoman for Greater Louisville Inc., the area's Chamber of Commerce. "This is a national hub for logistics and advanced manufacturing…and traffic is tied up."

The six-lane Sherman Minton Bridge, spanning the Ohio River between Indiana and Kentucky on I-64, was ordered closed Friday afternoon after inspectors found a crack in a tension tie. The closure has forced 80,000 vehicles onto alternative routes and doubled commuting times for thousands.

A bridge along I-65 has been designated by state transportation officials to carry some of the rerouted traffic. I-65 is a main thoroughfare for trucks carrying automobile parts from Ohio, Kentucky and Indiana.

The I-65 bridge was already over its designed volume capacity prior to the closing of the Sherman Minton Bridge, with some 120,000 vehicles a day traveling over it.

Don Hayden, owner and president of M&M Cartage, a Louisville trucking company, said 40 of his 140 trucks were spending an additional 90 minutes a day in traffic. The delays cost him about $3,000 a day, he said.

"I'm anxiously waiting to hear what the engineers are going to tell us," Mr. Hayden said.

Of the 604,000 bridges in the U.S., about 69,000 are structurally deficient, meaning they are in need of some sort of repair, according to the U.S. Department of Transportation.

In the 2009 report card for U.S. infrastructure issued by the American Society of Civil Engineers, the country's bridges received a grade of a C.

More than 26% of the nation's bridges are either structurally deficient or functionally obsolete, the report said.

More at:
http://online.wsj.com/article/SB10001424053111903532804576569060026984814.html


Quote :
“Without roads, bridges and airports, you don’t have an economy”

The Rachel Maddow Show: 'Shouldn't we fix these bridges?'
Sept. 12: E.J. Dionne, columnist for The Washington Post, talks with Rachel Maddow about the new traction President Obama is getting for his jobs plan, with a focus on putting people to work maintaining the nation's infrastructure
http://www.bing.com/videos/watch/video/shouldnt-we-fix-these-bridges/6wuo0jt?cpkey=27411e47-a2a1-4d03-85d5-c6d95f3b73b0||||

Congressman John Yarmuth (KY-03) discusses the closure of the Sherman Minton Bridge on "The Rachel Maddow Show" on MSNBC.
http://www.youtube.com/watch?v=_qJ6ODx6LwM

Back to top Go down
lmm
Epic Author
avatar

Aquarius

Posts : 1873
Join date : 2011-05-19
Location : Colbert County

PostSubject: Re: “Pass the bill” – if only for things like this   Wed Sep 14, 2011 10:02 am

Where is all the billions he already promised for this Prop? It's just sitting in someone's account. This is the problem. As this article points out:
In Keynesian economics, for spending to be stimulative, it has to be timely, targeted, and temporary.


Why Infrastructure Spending Is a Bad Bet
September 8, 2011 12:49 P.M.
By Veronique de Rugy

For one thing, even though Mark Zandi claims that the bang for the buck is significant when the government spends $1 on infrastructure ($1.44 in growth), that’s just his opinion. The reality is that economists are far from having reached a consensus on what the actual return on infrastructure spending is. As economists Eric Leeper, Todd Walker, and Shu-Chum Yang put it in a recent paper for the IMF: “Economists have offered an embarrassingly wide range of estimated multipliers.” Among respected economists, some find larger multipliers and some find negative ones. (Thanks Matt Mitchell for this great paper).

Second, according to Keynesian economists, for spending to be stimulative, it has to be timely, targeted, and temporary. Infrastructure spending isn’t any of that. That’s because infrastructure projects involve planning, bidding, contracting, construction, and evaluation. Only $28 billion of the $45 billion in DOT money included in the stimulus has been spent so far.

We know that the stimulus money wasn’t targeted toward the areas that were hit the most by the recession, but even if the funding were targeted, it still might not be stimulative. First, the same level of job poaching from existing jobs would have happened; construction workers tend to be highly specialized, and skilled workers rarely suffer from high unemployment. Many of the areas that were hardest hit by the recession are in decline because they have been producing goods and services that are not, and will never be, in great demand. The overall value added by improving their roads is probably a lot less than that of new infrastructure in growing areas that might have relatively little unemployment but do have great demand for more roads, schools, and other types of long-term infrastructure.

As for being temporary — which stimulus spending needs to be to work — what the president will propose tonight is likely to cost the American people money for a very long time.

Infrastructure spending tends to suffer from massive cost overruns, waste, fraud, and abuse. A comprehensive study examining 20 nations on five continents (“Underestimating Costs in Public Works Projects: Error or Lie?” by Bent Flyvbjerg, Mette K. Skamris Holm, and Søren L. Buhl) found that nine out of ten public-works projects come in over budget. Cost overruns routinely range from 50 to 100 percent of the original estimate. For rail, the average cost is 44.7 percent greater than the estimated cost at the time the decision was made. For bridges and tunnels, the equivalent figure is 33.8 percent, for roads 20.4 percent.
Back to top Go down
 
“Pass the bill” – if only for things like this
View previous topic View next topic Back to top 
Page 1 of 1
 Similar topics
-
» Did HR 4646 Pass? It's another obastarda sneaky tax.
» By pass confirmed screen
» pass word error Not login
» Farrah Fawcett RIP
» The McCanns and The Polygraph

Permissions in this forum:You cannot reply to topics in this forum
Alabamian :: Politics-
Jump to: