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U.S. infrastructure headed toward $1.6 trillion deficit in 2020, ASCE says

Posted By Amanda Bayhi On March 26, 2013 @ 2:43 pm In News & Analysis | No Comments

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The American Society of Civil Engineers (ASCE) warns that United States infrastructure will fall $1.6 trillion short of what’s needed to maintain existing facilities through 2020, according to a Bloomberg report.

“We’re investing in infrastructure, we’re just not investing enough,” Greg DiLoreto, president of the ASCE, told Bloomberg.

The ASCE says 80 percent more–$3.6 trillion–funding is needed just to put the nation’s facilities in a state of good repair before 2020.

The ASCE adds that motorists waste about $101 billion a year due to traffic congestion, and the organization recommends spending $91 billion annually on urban highways in the United States. However, the ASCE says that amount would need to increase by 87 percent to $170 billion to significantly improve infrastructure.

The ASCE projects that, unless investment changes, the United States infrastructure will cause a loss of 3.5 million jobs and $3.1 trillion in gross domestic product by 2020. The ASCE suggests spending an extra $157 billion a year to prevent such losses.

The American Society of Civil Engineers (ASCE) warns that United States infrastructure will fall $1.6 trillion short of what’s needed to maintain existing facilities through 2020, according to a Bloomberg report.

“We’re investing in infrastructure, we’re just not investing enough,” Greg DiLoreto, president of the ASCE, told Bloomberg.

The ASCE says 80 percent more–$3.6 trillion–funding is needed just to put the nation’s facilities in a state of good repair before 2020.

The ASCE adds that motorists waste about $101 billion a year due to traffic congestion, and the organization recommends spending $91 billion annually on urban highways in the United States. However, the ASCE says that amount would need to increase by 87 percent to $170 billion to significantly improve infrastructure.

The ASCE projects that, unless investment changes, the United States infrastructure will cause a loss of 3.5 million jobs and $3.1 trillion in gross domestic product by 2020. The ASCE suggests spending an extra $157 billion a year to prevent such losses.

Other ASCE plans include spending $877 billion on surface transport through 2020.


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