Biden’s $1 Trillion “Infrastructure” Boondoggle Is Being Destroyed By Its Inflation – THE NEWS BEYOND DETROIT

Biden’s $1 Trillion “Infrastructure” Boondoggle Is Being Destroyed By Its Inflation – The News Beyond Detroit

You may remember Biden’s disastrous $1 trillion “infrastructure” bill, much of which actually went to green energy, including billions for electric car chargers for the rich.

Well, it will squander even faster than usual because of the inflation triggered by overspending like this.

Money set aside to build new roads and bridges as part of Biden’s $1 trillion infrastructure project is ‘evaporating’ as inflation drives up material costs, the Associated Press reported.

“These dollars are essentially evaporating,” Jim Tymon, executive director of the American Association of State Highway and Transportation Authorities, told the AP. “The cost of these projects is going up 20%, 30%, and killing the federal government raise that they were so excited about earlier in the year.”

Rising prices have slashed how much can be done with the funds, and officials in several states said the money is not going as far as they would like. They are concerned that it will now take more years to complete projects.

The only answer is to pass a $2 trillion infrastructure bill and see project costs soar by 40% to 50%.

This is bad news for California’s light rail, whose cost rose by another $5 billion earlier this year to $105 billion, up from what should have been $42 billion in 2008, but inflation from government is much faster than anything in the private sector. And as anyone who remembers shovel-ready designs knows, nothing really gets built.

Baca Juga :  Paris Fashion Week Menswear: Watch the shows live - NewsOpener

Take the bridge that Obama and Biden used as a poster bridge for their infrastructure works.

“The individual elements of this plan to make sure we’re going to fix this damn bridge here that goes to Kentucky,” Biden rambled on to a small, handpicked audience of well-wishers.

That “damned bridge” should have been fixed 20 years ago.

Biden is promising to do what his own boss promised to do and then didn’t.

While the Obama administration never helped build a new bridge, $8 million in taxpayer money was wasted on an environmental impact study on the bridge. This was in addition to previous environmental findings from 2012 and 2005.

Any time. There will be more studies and nothing built.

You May Also Like