Trump Calls For $1.5 Trillion Infrastructure Plan

President Donald Trump was widely expected to discuss his long-anticipated infrastructure plan tonight, particularly since the White House leaked an outline for a plan to generate $1 trillion in spending through public-private partnerships. Tonight, Trump unveiled an even more ambitious sum, requesting Congress present an infrastructure bill for $1.5 trillion to rebuild America's roads, airports and rails.

Lamenting that it can take up to 10 years for a permit to be approved to build a simple road Trump demanded that the infrastructure plan also clear away the red tape surrounding the permitting process.

As previously discussed, Trump's framework under discussion for modernizing U.S. roads, bridges, waterways and other public works calls for allocating at least $200 billion in federal funds over 10 years to spur states, localities and the private sector to spend at least $800 billion and as much as $1.6 trillion. Ultimately, however, the government may be on the hook for the full amount, which would have to be funded with incremental debt.

As Bloomberg notes, White House infrastructure adviser DJ Gribbin has said the administration plans to send detailed principles to Congress a week or two after Trump’s State of the Union speech to begin the legislative process.

Excerpted from the speech:

I am asking both parties to come together to give us the safe, fast, reliable, and modern infrastructure our economy needs and our people deserve.

Tonight, I am calling on the Congress to produce a bill that generates at least $1.5 trillion for the new infrastructure investment we need.

Every Federal dollar should be leveraged by partnering with State and local governments and, where appropriate, tapping into private sector investment — to permanently fix the infrastructure deficit.

Any bill must also streamline the permitting and approval process — getting it down to no more than two years, and perhaps even one.

In response, Bloomberg Intelligence analyst Nathan Dean says that Trump’s call for $1.5t for the new infrastructure is going to fall flat with Congress, noting that there isn’t enough time for Congress to agree on such a broad package before they turn their attention to the 2018 elections, not to mention coming to a bipartisan agreement over budget concerns.

As Dean further says, "all of this infrastructure talk in Washington is going to have little impact on total U.S. infrastructure growth in 2018."

Meanwhile, Democrats are already questioning the plan and key groups are at loggerheads over the question of funding.

And so, despite the massive spending commitment, which could mean as much as $1.5 trillion in new debt, there was little reaction in the ten year, which was modestly lower on the news, as it either has had plenty of time to price the news debt in, or simply does not believe that it will happen.

 

Comments

COSMOS stizazz Wed, 01/31/2018 - 01:32 Permalink

The rate of this dollar printing is dizzying. The crooks must realize the game is close to the end so the printing is going all out.  Anything that can be used to justify more printing will be used.  At some point in time some shopkeeper outside the USA will wise up and ask for payment in silver coin or something of more value.

In reply to by stizazz

ACP Simplifiedfrisbee Wed, 01/31/2018 - 02:04 Permalink

Came here for the antiquated ideology and I was not disappointed. 

Cognitive dissonance tearing a new asshole in each of you idiots.

Some people think a welfare state can elect a conservative administration and congress and still stay in power 2 years after cutting government entitlements.

Some people are even dumb enough to believe that spending cuts won't be immediately reversed by the half of the country that think they deserve a paycheck for doing nothing.

Some people would rather have no border wall and allow hordes of murderers and rapists in the country than vote for a populist who knows that overspending cannot be stopped until the system collapses.

In reply to by Simplifiedfrisbee

JSBach1 Al Gophilia Tue, 01/30/2018 - 23:10 Permalink

How about for first accounting for the $21 trillion in lost $$ due in some part of it being siphoned off to "foreign" states? And are most of those in charge of these extended and superfluous "contributions" dual-citzens and, as such, pose a flagrant conflict-of-interest to their position within their suspect (supposed assimilation) therein over-representing their share of this newly-found "equal" society of said host country?

http://msutoday.msu.edu/news/2017/msu-scholars-find-21-trillion-in-unau…

In reply to by Al Gophilia

new game hedgeless_horseman Wed, 01/31/2018 - 05:50 Permalink

winning bitchez!

what a fuking joke...

having worked last summer on a temp. summer crew(tandum dumps ect.-class a lic), i can tell you with 100 percent accuracy, at least 50 percent of county budget is a complete waste of dollas. so therefore taxes could be cut in half. some serious jing being wasted. outrage, yes, but try to direct at someone who gives a shit. non-lol...

In reply to by hedgeless_horseman

mailll Rusty Shorts Tue, 01/30/2018 - 23:19 Permalink

And less than 1% of that will feed all of North Korea for more than a year so their citizens won't have to "eat dirt" to survive.

But we'd rather drop one 2 million dollar bomb targeting a couple people in North Korea.  We need to bring Kim Jung Un to America and let him stay for a couple of weeks and wine and dine him and then say to him, "Now how would you like your citizens to look and live like, ours, or yours?" And maybe bring him to Disney Land and Universal Studios.  Maybe he'd wake up.  Or maybe not. 

In reply to by Rusty Shorts

techpriest mailll Wed, 01/31/2018 - 00:12 Permalink

That's not the issue. Most politicians *wish* they could be Kim Jong Un.

Here's why - they don't care about the people. All that talk about how much they care... no. Most of them are sociopaths and will say what is needed to get elected.

What Kim Jong Un has is total power. A prosperous people are hard to control. Think about it, if you had a $10 million net worth and didn't need to work, and were just as pissed as you are now, would you not be able to spend every hour of every day fighting corruption of you wanted to? Or, at least leave and deny any further funding? People stuck in permanent poverty are slaves - they can't leave and don't have any resources to fight. That's what the vast majority of politicians want - to be a king or at least lord over a fiefdom.

Now, my father-in-law lived through communism, and he said the key to it ending in his home country was free trade. In his case, free trade meant there were holes to smuggle in forbidden books, which he read. For others, sitting in a factory making things for other countries all day led them to ask "Why is it that no one in my country can afford this, while those Americans are buying this stuff up by the thousands?" New ideas + exposure to a more prosperous country led to a sea change of opinion really fast.

In reply to by mailll

Laowei Gweilo WTFRLY Tue, 01/30/2018 - 22:42 Permalink

huge economic stimulus, basically a la China 2012 infrastructure stimulus

general economic and operational/regulatory/tax optimism

nothing too aggressive on trade or dollar

nothing too crazy about foreign policy (mostly just touching on basic talking points)

 

market futures seem to like that he wants to keep the kool-aid going, and more importantly, didn't fuck up haha

In reply to by WTFRLY

Luc X. Ifer hedgeless_horseman Tue, 01/30/2018 - 22:32 Permalink

if it is used by community it is paid by community. the problem is centralization - if a project is defined as of federal interest then the federal gov must prove it's purpose and the states must vote it. if state A doesn't approve it then they shouldn't pay the bulk upfront however, individuals of the state A should be charged a fee in case they use the benefits of the named infrstructure later.

In reply to by hedgeless_horseman