Republican Roadblocks to Investment in Public Infrastructure

Paul Krugman contends that the government’s inability to invest in infrastructure is due to “the destructive ideology that has taken over the Republican Party.”

“We have huge infrastructure needs … and the federal government can borrow incredibly cheaply — in fact, interest rates on inflation-protected bonds have been negative much of the time (they’re currently just 0.4 percent). So borrowing to build roads, repair sewers and more seems like a no-brainer. But what has actually happened is the reverse. After briefly rising after the Obama stimulus went into effect, public construction spending has plunged. Why?”

“In a direct sense, much of the fall in public investment reflects the fiscal troubles of state and local governments, which account for the great bulk of public investment.”

But “once the G.O.P. took control of the House, any chance of more money for infrastructure vanished.”

“And it’s all about ideology, an overwhelming hostility to government spending of any kind. This hostility began as an attack on social programs, especially those that aid the poor, but over time it has broadened into opposition to any kind of spending, no matter how necessary and no matter what the state of the economy.”

“We need public investment; at a time of very low interest rates, we could easily afford it. But build we won’t.”

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  • UnionLeague

    Republicans sabotage government so it fails in order to prove their ideology that government fails. Republicans are the Hurricane Katrina of Government.

    • NMoshe

      They spend election season campaigning on the idea that the government cannot do anything rights. They set to prove themselves correct when they win.

  • BearPAPABEAR

    If the Republican’s hate government so badly, why do they run so hard to be a part of it? Do they not realize, when they win a seat they become a part of the (sic) problem they so hardily decry?

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