The Half-Truth on Infrastructure at the Heart of the American Jobs Plan
The Half-Truth on Infrastructure at the Heart of the American Jobs Plan
Here’s a quiz to test your understanding: The American Jobs Plan states that “public domestic investment as a share of the economy has fallen by more than 40 percent since the 1960s.” Does this mean:
Here’s a quiz to test your understanding: The American Jobs Plan states that “public domestic investment as a share of the economy has fallen by more than 40 percent since the 1960s.” Does this mean:
a. The U.S. spends less money on infrastructure today than it did in the 1960s.
b. When adjusted for inflation, the U.S. spends less money on infrastructure today than it did in the 1960s.
c. The U.S. spends more money on infrastructure today than it did in the 1960s, even when adjusted for inflation, but that amount has not kept up with the size of the economy.
d. The U.S. spends more money on infrastructure today than it did in the 1960s, even when adjusted for inflation, even as a portion of the size of the economy, but all that old infrastructure is depreciating more quickly than we are increasing new infrastructure spending.