As Matthew Yglesias notes, less than half the money dedicated to new infrastructure projects in the House-Obama stimulus plan—a plan that was gutted, supposedly at the behest of Obama economic advisor Larry Summers, to eliminate $17 billion in proposed spending on public transportation—will be spent in the next two years. That means, first and foremost, that those highway projects won't do anything to lift the nation out of recession—the stated primary goal of the economic stimulus. And it's especially disappointing given that, as Grist reports, there are at least $50 billion in backlogged repair projects for public transit systems ready to go right now. Prioritizing highways that won't be built for years at the expense of shovel-ready transit projects that could help the economy today makes no logistical sense. It's a political decision, not an economic one.
Related: As expected, Obama's transportation secretary nominee Ray LaHood sailed to an easy confirmation yesterday.
Build More Livable and Sustainable Communities: Our communities will better serve all of their residents if we are able to leave our cars to walk, bicycle and access other transportation alternatives. President Obama will re-evaluate the transportation funding process to ensure that smart growth considerations are taken into account.
Strengthen Core Infrastructure: President Obama and Vice President Biden will make strengthening our transportation systems, including our roads and bridges, a top priority. As part of this effort, Obama and Biden will create a National Infrastructure Reinvestment Bank to expand and enhance, not supplant, existing federal transportation investments. These projects will directly and indirectly create up to two million new jobs per year and stimulate approximately $35 billion per year in new economic activity.
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