Trump, Pelosi and Schumer met in the Whitehouse. Unlike the last time when it ended with a Government shutdown, this time they came out all smiles and in agreement to spend $2 Trillion (yes $2,000,000,000,000) US dollars on infrastructure. That is the easy part. Who doesn't want better infrastructure?
Now that the smiles and congratulatory handshakes are over we have to face up to election year politics (I know, it is only 2019 but hey, it is always election year), the inevitable backlash from Trump's base, the potentially tricky details of what to build, where and when (even $2 trillion dollars only goes so far) and finally how to pay for it. This last one gets little attention, but it is the biggest roadblock to "new roads for all".
Thanks to Trump's tax reforms, the US federal deficit is at record peacetime highs and forecast to grow even more. The US debt is currently growing so fast it is dizzying: $100,000 every 5 seconds. Spending another $2,000,000,000,000 while already $22,000,000,000,000 in debt is a tall order for an economy that generates only $18,566,000,000,000 per year.
Spending $2 "T Dollars" on infrastructure is the same as a person who makes $50,000 per year, spends $52,700 per year, and already owes $59,200 deciding to add on another $5,700 in debt. Would you do that? Why?