Infrastructure As An Economic Recovery Generator
Remember my BLOG a few days ago "Whatever happened to...." There was an interesting article I found in the Toronto Star back in 2001 that applies in Windsor today. We have the project--the road to the bridge---and the money---the $300 million BIF pot of gold---so why are we delaying? If the Mayor and Council will finally wake up, we may have a way to stimulate the local economy until they figure out a better solution for the region!
Why aren't the Windsor Construction Association and Chamber of Commerce, Presidents of companies and their workers and unions amongst others demanding action forthwith! What are they waiting for?
Perhaps our re-elected MPs for the area, Masse, Comartin and Watson, can overcome their party differences and, by working together, actually help create some new jobs here after the Ford shock!
Slump calls for investment in infrastructure;
David Crane. Toronto Star.
WHILE A NASTY recession, like that of the early 1990s, appears unlikely, there's no question we are in an economic slump.
Moreover, the illusion of a V-shaped recovery so popular with economists and analysts early this year they said there would be a brief fall in economic activity in the first half of the year followed by a healthy rebound in the second half has been shattered.
It now appears we are in for a longer period of weak performance as companies work their way through excess inventories and overcapacity...
There are problems of excess capacity in many other industries, including autos and steel.
The response of governments has been to lower interest rates and cut taxes, in the hope that consumers will rescue the economy. So far, this approach has little to show in the way of results.
So perhaps it's time to consider a very old-fashioned idea to boost the economy. Why not accelerate public spending in necessary infrastructure, from transit and roads to water systems, waste management and educational facilities as well as to social housing. Such spending is non-recurring and so does not impose an ongoing burden on public finances.
Unfortunately, while the federal and provincial governments have talked a lot about investing in infrastructure, the flow of funds has been far too slow.
...projects have yet to start moving forward. The same is true for...the provision of additional capacity at the Windsor-Detroit border crossing.
If we are to have a productive economy and attract investment, we have to have first-rate infrastructure. The combination of this real need and an economic slowdown means that this is exactly the right time to accelerate such spending thereby modernizing the economy for long-term growth while stimulating the economy for some immediate growth."
Slump calls for investment in infrastructure;
David Crane. Toronto Star.
WHILE A NASTY recession, like that of the early 1990s, appears unlikely, there's no question we are in an economic slump.
Moreover, the illusion of a V-shaped recovery so popular with economists and analysts early this year they said there would be a brief fall in economic activity in the first half of the year followed by a healthy rebound in the second half has been shattered.
It now appears we are in for a longer period of weak performance as companies work their way through excess inventories and overcapacity...
There are problems of excess capacity in many other industries, including autos and steel.
The response of governments has been to lower interest rates and cut taxes, in the hope that consumers will rescue the economy. So far, this approach has little to show in the way of results.
So perhaps it's time to consider a very old-fashioned idea to boost the economy. Why not accelerate public spending in necessary infrastructure, from transit and roads to water systems, waste management and educational facilities as well as to social housing. Such spending is non-recurring and so does not impose an ongoing burden on public finances.
Unfortunately, while the federal and provincial governments have talked a lot about investing in infrastructure, the flow of funds has been far too slow.
...projects have yet to start moving forward. The same is true for...the provision of additional capacity at the Windsor-Detroit border crossing.
If we are to have a productive economy and attract investment, we have to have first-rate infrastructure. The combination of this real need and an economic slowdown means that this is exactly the right time to accelerate such spending thereby modernizing the economy for long-term growth while stimulating the economy for some immediate growth."
posted by JoeBlog at 6:29 a.m.
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