Today President Obama is convening a Jobs Summit to discuss options
for sparking job creation. This is not a moment too soon as unemployment passed
the 10 percent mark last month.
One piece of the solution: overhauling our nation’s
crumbling infrastructure.
Of course there is not a silver bullet resolution to our
severe economic crisis. Ideas up for debate include hiring incentives for small
businesses, developing our green economy, promoting U.S.
exports, and infrastructure investment. Although many believe consensus is
unlikely, refocusing Congress on the need for job creation policies is still
important.
The recommendation should rebuild our economy over the short
and long run, rather then just providing a short term solution and also lay the
ground work for our country’s future. Massive investment in our country’s
infrastructure creates jobs but also provides urgently needed services.
A) Investment in current and future needs.
According to the American Society of Civil Engineers, we
need to spend at least $2.2 trillion over five years for deferred maintenance
of existing infrastructure and investment in new infrastructure. And this
venture would only meet current needs.
B) Job Creation.
Infrastructure
investment is a well-established policy option for job creation. It has been
successfully used in numerous recessions, such as those in the early 1960’s and mid-1970’s. Furthermore,
road and bridge repair and maintenance create over 47,000 jobs for every $1.25
billion invested.
We need a serious program that is expanding job creation and
growth in the short and long haul. Sustained, substantial investment in new,
smart-growth infrastructure, like rail expansion, and existing infrastructure
needing repair provide significant job creation potential, while also laying
the ground work for our countries’ future. Let’s turn this hardship into an opportunity!
