150,000 miles of roads?!?! 1 mile of road takes 5,500 gallons of liquid asphalt. One barrel of oil produces 19.5 gallons of gas, 9.2 gallons of distillate (diesel or home heating oil) 1.3 gallons of asphalt and road oil - or 4,231 barrels of oil. So, if I have this right 150,000 x 4,231=634,650,000 barrels of oil.
We are borrowing 50 billion to get .09 cents of every dollar borrowed added to GDP and in the process we are going to push oil prices north, dragging the cost of goods and services with it.
While the proposal calls for investments over six years, the White House said spending would be front-loaded with an initial $50 billion to help create jobs in the near future.
The goals of the infrastructure plan include: rebuilding 150,000 miles of roads; constructing and maintaining 4,000 miles of railways, enough to go coast-to-coast; and rehabilitating or reconstructing 150 miles of airport runways, while also installing a new air navigation system designed to reduce travel times and delays.
LINK to .09 cents on the borrowed Uncle Buck gets into the economy.
Effn morons! Or as Doug Casey puts it: Letting the government borrow money is like giving a teenager a bottle of whiskey and the keys to the Corvette.
This is a companion discussion topic for the original entry at https://peakprosperity.com/morons-2/