Last night, President Obama argued that rebuilding American infrastructure is crucial to job creation, and with 70,000 structurally deficient bridges, it is long overdue. Today, the United States Chamber of Commerce is holding a summit on infrastructure investment. According to the U.S. Chamber, our broken infrastructure costs $78 billion annually in lost time and fuel, and we will experience $336 billion in lost growth over the next 5 years. Our decaying infrastructure is a significant drag on the economy. Freight rail bottlenecks cost us $200 billion a year--air traffic delays $33 billion a year. Our inadequate ports will lose up to $270 billion in exports by 2020, costing 738,000 jobs. Lots of people around here spend a lot of time whining about China. China invests 9 percent of its economy in infrastructure. We invest less than 3 percent. Stop whining about China and do something about it. President Obama and the U.S. Chamber agree that it's time to nation-build right here at home, right here in America, and Congress should listen. ____________________
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