Infrastructure Investment: A State, Local, and Private Responsibility

Despite huge and ongoing budget deficits, some policymakers are proposing to increase federal spending on infrastructure. President Obama on Thursday unveiled a new federal infrastructure initiative, and he has been campaigning for Congress to pass a long-term highway bill. The president and other leaders believe that more federal spending on roads, rail, and other assets will boost growth and create jobs. Cato scholar Chris Edwards, however, argues for devolving infrastructure activities to the states and the private sector.