The U.S. needs to invest about $2.7 trillion dollars in the nation’s infrastructure by 2020 according to a new study from the American Society of Civil Engineers (ASCE). That total includes investment in airports, seaports and waterways, surface transport, and electricity.
Unfortunately, the ASCE calculates that at current and projected spending rates, the U.S. investment in infrastructure will come up short by about $1.1 trillion. And as the years go by, the gap increases. By 2040, spending will fall about $4.7 trillion short of what is needed.
The study has tried to incorporate the cost of failure into the total cost of investment in an effort to portray more accurately the overall cost to the U.S. economy of failing to make the improvements. For example, the ASCE estimates that unless the U.S. invests an additional $157 billion a year ($1.1 trillion total over the next 7 years) the cost to…
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