January 25th, 2008

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Mike Bloomberg on Improving Americas Infrastructure

A key component of Mike Bloomberg’s vision for America was outlined at the recent speech given at the U.S. Conference of Mayors. The short version is that building our nation’s infrastructure is a key to our future, which means fixing bridges in places like Minneapolis or Levees in New Orleans; instead of reckless spending on Pork Barrel Projects. After accepting the Mayoral Leadership Award, Mike Bloomberg highlighted:

“That the best way to pump money into the economy in the short-term and get something out of it in the long-term is to finance immediate infrastructure projects that cities and states can’t afford. I’m sure all of us have a list a mile long – bridges and roads and mass transit systems that need repair. Why not put people to work on these projects right now? Remember, the public works of the New Deal didn’t just create jobs. They built a foundation that allowed America to experience unprecedented growth in the 1940s, 50s, and 60s”

Now, let us contrast Mike’s vision with that of our current lack of leadership in Congress and the White House? Instead of long-term investment for the future, they believe that handing out a small tax rebates is somehow going repair the American economy. They believe that a small infusion of consumer spending is somehow going to place our economy back on track. While I have no doubt that this will make some people smile during tax season, how does increasing the national deficit by 150 billion dollars help get our nation out of debt? Is this not the same shortsighted thinking that is damaging our economy and our currency in the first place?

But more than just talking about the infrastructures problem, Mike Bloomberg along with Governor Schwarzenegger and Governor Rendell of Pennsylvania, created a nonpartisan coalition of local and state leaders called Building America’s Future. The goal of this organization is to push for commitments in building national infrastructure, a long-term investment for America. But why do we need improve our infrastructure you ask, what does the data say?

“According to the Congressional Budget Office, in inflation-adjusted dollar terms, annual public spending on infrastructure has risen from $105 billion in 1956 to just over $312 billion in 2004, an average of 2.3 percent per year. However, as a share of total non-defense federal expenditures, it has actually declined. Between 1956 and 1966, infrastructure spending as a share of total non-defense federal expenditures was approximately 10 percent. Since then, it has steadily declined, so that, for the last twenty years, federal spending on infrastructure has averaged 3.5 to 4 percent of total non-defense expenditures.”

In addition to the lack of spending on the right kind of infrastructure, Mike Bloomberg believes that we need to cut down on the wrong kind. “It’s time we start spending on the infrastructure Americans need, not the pork barrel projects that politicians want. Senators Chris Dodd and Chuck Hagel have proposed creating an infrastructure bank for this purpose.”

Finally, if you want to know more about Mike’s style of leadership:

“I built my company on the idea that better, more transparent data will help people make better decisions. There’s a saying: In God We Trust. Everyone else bring data. Washington should be no exception. Telling us how and for what our money’s being spent let’s us, rather than them, make the decisions.”

If Accountability, Transparency, Vision, Results, and Foresight are qualities that you look for in a President, please sign the petition; let Mike know that you want him to run!