Friday, July 29, 2011

Free market drivers leading USA down increasingly bumpy road?

NZ in Tranzit in USA

"We've transformed our economy from the world's most prosperous manufacturing economy -- with reasonable national savings and trade surpluses -- to the world's most indebted service economy, with negative national savings, chronic trade deficits and Total Credit Market Debt Owed of $52 Trillion."
So comments one of the readers of the US publication, The Fiscal Times, in response to an article reporting the growing shortfall in government spending on America's deteriorating highways, bridges and transit (public transport) systems. 
The American Society of Civil Engineers identified added costs arising from more obvious deficiencies in the country's surface land transportation systems as draining households and businesses of nearly $97 billion in increased costs to maintain and repair vehicles and $32 billion of increased travel time because of congestion and delay. The engineers say costs of the sort, coupled with lower investment in land transport infrastructure projects  will undermine the economy and lead to increased unemployment

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