Could Infrastructure Spending Save the Economy?

Complete video at: http://fora.tv/2008/09/17/Michael_Bloomberg_on_the_Economy_in_Crisis

Michael Bloomberg, Mayor of New York City and founder of Bloomberg, L.P., suggests that increased spending on infrastructure may help revive the economy.

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Mayor Michael Bloomberg addresses a Georgetown audience on the state of the American economic crisis, the steps that should be taken and the steps that have not yet been taken. He characterizes federal responses to date as being akin to "buying an alcoholic a drink."

Michael Bloomberg is an American businessman, philanthropist, and the Mayor of New York City. He was elected mayor in 2001, then reelected to a second term in 2005.

Bloomberg graduated from Johns Hopkins University in 1964 with a bachelor's degree in electrical engineering, then earned an MBA from Harvard Business School in 1966. His 1997 autobiography was titled Bloomberg by Bloomberg.

Bloomberg is the founder and former CEO of financial news and data company Bloomberg, L.P.

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[simongbb7]

The infrastructure in the US sucks. No high speed rail, roads falling apart, air traffic nightmares, congested roads. It's pathetic.

[stone1home]

Without rebuilding an economy with at least a 20 to 25 percent manufacturing base, the US economy is sunk. The manufacturing base has currently shrunk to 9 or 10 percent.

[captinseperoth]

throw out the some 12 million illegal immigrants,and create 12 million jobs! so easy,pond scum can figure it out.

[dehountinge]

Yeah but it goes beyond, because you put people to work, the workers that build the infrastructure get paid and then spend, stimulating their local economies, then the infrastructure whatever is built creates jobs, ex some facility, a dam to bring more water to a town, green energy whatever creates jobs then you have more people working and spending, that is the idea behind building infrastructure..

[sinfulANGEL999]

For myself,it's not really so good. I mean,it's a finacial relief!!! Economics for presidential politics. For the president it's not a good thing for everyone,if you put money in wrong banks,they steal them. Right?

[ourearthhome]

Sure infrastructure spending could help but the little known and less discussed downside is that all infrastructure increases land value. The economic effect is that all landowners and especially the big monopoly land/natural resource owners ultimately are enriched if their increased land value is not taxed away to pay for the infrastructure. Federal and State spending funded by anything other than taxes on land value is pure subsidy to landowners the big ones who hide behind little homeonwers.

[BlutundBod3n]

Lol... how is that???¡¡?? Lol, no high speed rail, roads falling apart, air traffic nightmares, blah blah blah. Wasn't tha United States Of America a part of the first world? Lol..., you're aaaaaaaaaall lies! Lol Scheiße

[kerouacbukowski]

yay sanity!

[diggersstory]

The public servants we trusted have trashed our house and more are wanting to be elected.

[hasatum]

There would be no "bridges to nowhere" if conservatives were consistent and voted down budgets for this stuff, voted down taxes, voted down corporate welfare, and let the market work the way it's supposed to. I'm tired of free markets getting blamed for the economy. Banks got into this business only because CEOs thought they'd get bailed out or were looking for more mergers. The government helps a problem to occur and then offers more government as the solution. This is ridiculous.