James Oberstar: “The term that we use in this committee, ``investment,'' is the way to describe what our committee is all about. This is…”

“The term that we use in this committee, ``investment,'' is the way to describe what our committee is all about. This is a committee about building America, whether it is our inland waterways, our coastal ports, our inland ports, our St. Louis seaway, our passenger rail system, transit ways, bus ways, our airports, airways, Corps of Engineer works, the water and sewer system needs of America, Economic Development Administration creating jobs. The Tennessee Valley Authority comes under the jurisdiction of our committee. Everything this committee does is involved in building America, investing in our productivity, investing in logistics, the cost of moving people and goods. Because of those investments, we have improved the marketplace in America. In 1987, the cost of logistics, moving people and goods, was 17 percent of our gross domestic product. Last year, the cost of logistics was under 10 percent. That is a $700 billion gain in productivity in logistics, moving people and goods in the American economy, society and marketplace.”