Why is America falling behind in global competitiveness? This simple infrastructure spending chart shows why
(via Wall Street Journal)
The U.S. spending on transportation (and infrastructure in general) has flatlined (or some argue that it has declined considerably) over the decades while other countries around the globe, especially in Asia, have ramped up their investment in large-scale infrastructure projects such as building highways and railroads. So, how does it look when we match our spending versus the other nations. This chart from Wall Street Journal shows show you how badly we are behind in this race to stay competitive. Recommend reading the related article on WSJ that shows how funding for infrastructure projects may be coming from new sources as ‘wealth advisers are steering clients into infrastructure deals. Let’s not forget that we have already a crazy amount of things to fix and on top of that we have to spend on projects that can cater to the growing need for transportation as the population explodes. But do we really have the money to fix the broke and embark on starting new projects? With a dwindling highway trust fund account and a political gridlock in Washington, even the basic of needs for keeping the country economically superior seems to be a bigger challenge than ever.