Despite What You’ve Heard, 'Crumbling Infrastructure' Is A Myth | Stock News & Stock Market Analysis - IBD

Despite What You’ve Heard, 'Crumbling Infrastructure' Is A Myth | Stock News & Stock Market Analysis - IBD:
"Expect to hear the term "crumbling infrastructure" a lot in the days ahead, as Washington debates the merits of President Trump's plan to boost spending on the nation's roads, bridges, airports, railroads and whatnot by $1.5 trillion.
What's unlikely to come up in these discussions, however, is the question of whether the nation's infrastructure is really "crumbling" at all.
For the past four decades, there's been a steady stream of dire warnings about how our aging infrastructure was rapidly falling apart, and that without a massive influx of federal spending, roads would be impassable, bridges would collapse, ports would be unusable, and so on.
...So, what happened?
Those huge spending increases never materialized.
In fact, over the past 40 years, total federal, state and local government spending on infrastructure has remained right around 2.5% of GDP.
Yet despite all those urgent warnings about how we were vastly underspending on roads and bridges and such, the country's infrastructure never actually crumbled..."
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