Now Is The Time To Invest In Infrastructure

Thursday, October 14, 2010

Delaying a dollar of needed repairs is no different from racking up a dollar the government owes. “You run a deficit both when you borrow money and when you defer maintenance,” Larry Summers, outgoing chairman of the National Economic Council says. “Either way, you’re imposing a cost on future generations.” Plus, if America has to borrow money, now is the time. The interest rate on 10-year Treasuries is less than 3 percent—the lowest it has been since the 1950s. So a dollar of debt is cheap, and a dollar of infrastructure investment goes far.