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The State of Infrastructure: The Credit Crisis Has Opened the Door to New Possibilities for Infrastructure Development
The United States has been coasting on a wave of prosperity for several decades, but much of its infrastructure was built during the middle of the 20th century and is aging and increasingly in need of a major overhaul, according to the ULI/Ernst & Young annual infrastructure report Infrastructure 2009 — Pivot Point.
In the midst of the Great Depression, the United States launched a series of infrastructure initiatives that helped put people to work building dams, bridges, roads and public works. Today’s economic crisis is drawing comparisons to the 1930s, and many people are calling for another surge in infrastructure spending to create jobs and help the economy recover. Current federal infrastructure outlays of more than $132 billion are a step in the right direction; however, according to Infrastructure 2009, the sum should be considered a down payment on a much larger and pressing need — a comprehensive long-term vision for the c