Donald Trump’s pitch for a $1 trillion upgrade of the nation’s roads, bridges, tunnels and airports is already running into potholes as it meets reality in Washington.
But it doesn’t need to hit snags. As Rep. Lou Barletta (R-Pa.) echoed:
“The federal government will get money back because as I said these are good-paying jobs,” Barletta said. “You’re going to be putting people to work. They’re going to be paying taxes. That money is going to come back to Washington.”
When the government spends $1 Trillion into the economy, guess where that money goes to? To the people in the economy, who spend it on food, housing, living, and… taxes. It’s a modern day New Deal. And the government doesn’t need to “get the money to pay for it” from anywhere other than the fact it is going to end up with a $1 Trillion dollar asset owned by the people. Spend a $1 Trillion get back a $1 Trillion asset. Seems like a fair deal.
If Trump tries to get it paid for by private investment, that will be a bad deal because the public ends up with nothing, except paying tolls to use the infrastructure that was just built. That makes no sense.
— Stephanie Kelton (@StephanieKelton) November 20, 2016