Tom Warne Report, 25 January 2013
A new report by the American Society of Civil Engineers (ASCE) says surface transportation will be short a staggering $846 billion worth of investment by the year 2020 if Congress does not move to solve it. ASCE will publish a “report card” in March that details the enormous gap between spending levels and the needs of the system.
The president of ASCE is conducting a series of previews preceding the report card, in which he has said the deterioration of the nation’s infrastructure is a threat to safety, quality of life and harmful to the economy.
“Each of our proceeding reports on various infrastructure sectors demonstrated a common theme: Deteriorating infrastructure has a cascading impact on the nation’s economy, negatively affecting business productivity, gross domestic product, employment, personal income and international competitiveness,” ASCE president Gregory DiLoreto said in a Jan. 15 press conference. “The message is clear: If we do not invest now, all Americans will end up paying more in the long run.”
The ASCE has released five reports leading up to its annual report card entitled “Failure to Act: The Impact of Current Infrastructure Investment on America’s Economic Future.”
Aside from the estimated $846 billion shortfall for roads and bridges by 2020, the ASCE reports a $39 billion gap for airports, $16 billion for seaports and waterways, $84 billion for drinking water and $107 billion for electricity.