With an interest rate of roughly 2%, the costs of investing in our infrastructure are as low as they have ever been, believes Marcelle Arak, CoBank Professor at the J.P. Morgan Center for Commodities.
A recent report showed unexpectedly slow job growth over the summer, raising the odds of a stall in the already sluggish U.S. economic recovery. While this in itself is disappointing, the even greater disappointment is the failure to do anything about it, particularly when there’s an obvious and costless solution: borrow hundreds of billions of dollars for essentially nothing and spend it on our nation’s crumbling infrastructure. Doing so would boost gross domestic product (GDP) by far more than it costs and create hundreds of thousands of jobs.
Read the full article on the Fortune Magazine website.