Originally Published: January 3, 2018 5:53 a.m.
2017 will end without any action taken on our president’s promised but non-existent $1 trillion infrastructure program.
His preliminary 2018 Budget includes $200 billion in “outlays related to the infrastructure.” He would like $800 billion to be provided by private capital. This means privatizing $800 billion in to-be-planned new infrastructure. But private money is not free money. It costs and costs and keeps on costing more and more year after year.
We taxpayers will be burdened for many decades with substantial costs for interest, tolls and fees. Even worse, billions of toll and fee dollars will be lost to our government. Money that would normally flow into the US Treasury will end up in private hands. Not one penny will go to reduce our deficit. Future generations will have to deal with that.
None of this would be necessary if the spendthrift Trumpublicans had not just exploded our existing large deficit by adding another $1.455 trillion dollars or more to it over the coming decade. Really!
Their choice was simple: add $800 billon more to our deficit to start rebuilding our nation’s crumbling infrastructure or add $1.445 trillion to our deficit with the most unpopular, unfair tax legislation and pixie dust promises in our nation’s history— and still have to deal with our crumbling infrastructure problem next year.
We all know the choice our president and the Republican congress just made.
What choice would you have made?