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Infrastructure

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In this Greg Sargent piece on the need for Democrats to talk more about economic issues is a depressing piece of information about government spending on infrastructure, which is at its lowest levels on record, with data going back to 1947:

Indeed, according to Bureau of Economic Analysis data compiled by Moody’s for its investors and shared with me by White, current state and local investment, in 2009 real dollars, now totals 1.4 percent of GDP. In 1947, the first year for which BEA data is available, the total was 1.7 percent. It steadily rose and peaked in the late 1950s and 1960s, topping out at 4.6 percent, before steadily declining throughout the 1970s and 1980, before dropping below 2 percent during the Great Recession and its aftermath — amazingly — and settling at 1.4 percent today.

Now you can debate whether building more roads is a good idea, but it’s not as if rail or bridges or sewers or other infrastructure is receiving funding either. So basically America falls apart and creating the tax base to fix it is politically impossible.

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