The US administration aims to spend $286 billion on the development of the American transport system
Passing such highly expensive laws is usually accompanied with heated debate, numerous changes and so on and so forth. This time, however, a bill was transformed into a law a lot earlier than usual. As it was supposed, 24 billion dollars were supposed to be used for governmental subsidies to the states, which will be fulfilling the projects of the law. Adversaries of the law said that congressmen and senators would most likely spend the money inappropriately, trying to insinuate their electorate. In addition, many protest against the unwillingness of the US Congress to control the state spending at the moment, when the budgetary shortage is to exceed the record-breaking $333 during the current year.
The law envisages 6,300 special projects in all states: bridges, highways, landscape accomplishment, snowmobile tracks, etc. Is it all so bad with the US infrastructure? George W. Bush released the key statement, which dotted all i's at this point: the law is meant to generate more jobs and give an incentive to the economic development of the USA.
- snip -
There were 9.3 million unemployed American citizens registered in the USA in 2004. The foreign trade shortage of the USA made up $617.73 billion in 2004, which became the record-breaking index for the USA. To crown it all, the US state debt reached unimaginable $7.22 trillion in 2004 too.
- snip -
When massive unemployment put the USA on the brink of survival during the Great Depression of the thirties, the government started funding the development of the transport infrastructure - it became the only way out of the crisis. Highways, on which the government spent billions and billions of dollars, rescued the entire nation. It is worth mentioning that the value of the US dollar used to be lower during that time.
Here is another example, which bears some similarity to the present-day USA. When Adolf Hitler came to power in 1933, Germany was suffering from massive unemployment and helpless economy. Hitler mobilized thousands of the unemployed to build autobahns, which Germany is proud of still. The road construction gave a very powerful impetus to the revival of the German industry. Huge state investments triggered the industrial development, and Germany turned into one of the strongest European superpowers. http://english.pravda.ru/world/20/91/368/15972_economy.html
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
