Infrastructure investment necessary to avoid economic harm

By |  January 21, 2013

The American Society of Civil Engineers (ASCE) has released a report that states that unless the United States invests an additional $1.57 billion per year in infrastructure between now and 2020, the nation will lose $3.1 trillion in gross national product, $2.4 trillion in lost consumer spending and more than 3.1 million jobs.

“The Impact of Current Infrastructure Investment on America’s Economic Future,” the fifth and final report in ASCE’s Failure to Act series, concludes that there will be an estimated investment gap between now and 2020 of $846 billion in surface transportation. The report states that the deterioration of the nation’s infrastructure undermines the economy, jeopardizes public safety, threatens the quality of life and harms the U.S. economy.

“Each of our proceeding [Failure to Act] reports on various infrastructure sectors demonstrated a common theme: deteriorating infrastructure has a cascading impact on the nation’s economy, negatively affecting business productivity, gross domestic product, employment, personal income and international competitiveness,” says Gregory DiLoreto, ASCE president. “The message is clear: if we do not invest now, all Americans end up paying more in the long run.”

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