Monday, July 9, 2012
Public-Private Partnerships in Puerto Rico: What a National Infrastructure Bank would look like
What they are talking about here is where a National Infrastructure Bank could come in and help to makeup the lack of funding. For Infrastructure Investment around the country, to make up the differences that Congress leaves behind each year to now around 1T$. According to the Core of Engineers, thats the amount of funding they say we need in Public Infrastructure in America. To rebuild this country and to help avoid the aftermaths of devastating Natural Disasters like hurricanes and earthquakes, tornados etc. But also to help avoid man made disasters from happening in the future as well, like bridges collapsing when the weather is good, which is what happened in Minnesota just five years ago. That killed innocent people and an NIB would also put millions of people to work, not creating new Public Sector jobs but in the Private Sector, especially in the Construction and Manufacturing Industries. Because it would create a lot of jobs that would need to be done and give a lot of companies new contracts to do these jobs. Then they would end up having to do more work then normal and then have to hire new employees to do these new jobs from these new contracts.
What a National Infrastructure Bank is, is a company that would prioritize Infrastructure Projects around the country. Bring in investors from the Private Sector to pay for this new work, that they would get back in return from money made off of using these new roads or buildings. From the people they would attract and then the NIB would award contracts to companies to either repair current Public Infrastructure. As well as build new Infrastructure around the country and they would be there to make up the shortfall left by Congress that either doesn't want to spend more money or raise new taxes. Or has other priorities that they would prefer to fund but it wouldn't leave Congress out of the picture either, because they would still have the Gas Tax. That would be there to fund the Infrastructure Projects that the NIB decided not to fund, so we would have two organizations that would be working on this.
I personally like the idea of Public Private Partnerships, its a hell of a lot better then from what we hear from Progressives and Libertarians. That either want the Federal Government to solve all of our problems for us as a country or in Libertarians case, wants the Federal Government to do basically nothing. And is something that we should also be looking at when it comes to Social Insurance as well.