Jeffrey Sachs: More Infrastructure Spending

So we needed the government to come in, in a different way. I don’t think the markets was going to lead the recovery on its own. But what I did think is we need a long-term strategy, we need a long- term strategy based around investment rather than consumption.

We do need to reconstruct our infrastructure, our roads, our power system. Our water and sanitation system all over the country is broken down. Our rail is falling farther and farther behind what China or Spain or Japan or other countries are doing with high-speed rail.

Here.

Oh, please.  That was the original intention of the so-called stimulus.  These schemes only work in theory but not reality.  We have all witnessed a huge, expensive, wasteful spending spree by politicians.  Boondoggle ala-mode.  Basta!  They have paid off political cronies, they have been padding government employee pay and pensions for decades.  Politicians cannot be trusted with our taxes to do the right thing.  More importantly, we should all stop pretending they know how to manage the economy.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s