The Treasury Joins the Build While It's Cheap Chorus

Thu, 03 Nov 2011 14:10:46 +0000

When I first started writing about this in January 2008, I was hoping the Treasury would get on board.  This Treasury Note by Aaron Klein makes the case very well (h/t Mark Thoma):

In addition to laying the foundation for stronger economic growth, we must also work to address a crucial problem facing our economy today - unemployment.  Investments in infrastructure today will put Americans back to work.  And with over 1 million construction workers currently unemployed, now is the right time to invest in infrastructure.  Eighty percent of jobs created by investing in infrastructure will likely be created in three occupations - construction, manufacturing, and retail trade - which are among the hardest hit from the recession. Treasury Department analysis shows that these sectors pay middle-class wages, so employment in these sectors bolsters middle-class jobs.

Better some than none at all.  Better late than never.