Trump advisers call for privatizing some public assets to build new infrastructure

[brooklynite]

Source: Washington Post

The Trump administration, determined to overhaul and modernize the nation’s infrastructure, is drafting plans to privatize some public assets such as airports, bridges, highway rest stops and other facilities, according to top officials and advisers.

In his proposed budget released Tuesday, President Trump called for spending $200 billion over 10 years to “incentivize” private, state and local spending on infrastructure.

Trump advisers said that to entice state and local governments to sell some of their assets, the administration is considering paying them a bonus. The proceeds of the sales would then go to other infrastructure projects. Australia has pursued a similar policy, which it calls “asset recycling,” prompting the 99-year lease of a state-owned electrical grid to pay for improvements to the Sydney Metro, among other projects.

In the United States, Chicago Mayor Rahm Emanuel (D) explored privatizing Midway International Airport several years ago but dropped the idea in 2013, after a key bidder backed away. Transportation Secretary Elaine Chao says such projects should be encouraged.



Read more: https://www.washingtonpost.com/local/trafficandcommuting/trump-advisers-call-for-selling-off-old-assets-to-build-new-infrastructure/2017/05/23/657aa2c6-2f53-11e7-9534-00e4656c22aa_story.html

[iluvtennis]

1. Hell No...this is is line with Dumpty wanted to sell parts of the national parks. SMDH...

...although Australia appears to have made something work, I don't trust anything from the Dumpty admin. They are only out to line the pockets of the wealthy and themselves.

[Lithos]

2. The issue is this

Private investors will walk away when the going gets tough...

The thing is, projects such as Midway can not suffer this gap, this disconnect and need continuity which is only provided by public projects during the worst of times. Introducing private investing means that all we're doing is skimming off the best of times to give as profit to disinterested individuals who will flee when it comes to the moment of truth.

In the corporate world, you can shut down, go out of business; in the public world, you can't. And what happens is the public gets left holding the end up sans the profit (emergency funding) which was bled out to private individuals.

L-

[dalton99a]

3. How about lakes, rivers, reservoirs, water towers

[not fooled]

4. All of this proposed f*ckery

results from the failure to adequately tax the wealthy and corporations. Or, rather, the recent failure...we used to, but they have succeeded in buying their way out of their fair share.



Oh, and dump doesn't really care about fixing infrastructure. He cares about selling public assets to his cronies. Oligarchy 101.

[notdarkyet]

14. Yep from no taxes. And trump thinks of himself as a property magnate. Now he

Thinks he can sell off the whole United States but it belongs to the people, children and grandchildren.

[Freethinker65]

5. No. From Chicago....home of a privatized meter parking fiasco

[Honeycombe8]

6. OMG. He's dismantling the government and selling it off piecemeal, like a joint venture business!

OMG.

This can't happen.

[bucolic_frolic]

7. Trump has no mandate to do anything other than resign!

He lost. He cheated. Is the IC investigating ballot box and machine hacking and
fraud? I haven't heard of it.

Yet all we do is focus on this Russian connection which is significant to be sure, but
the rest of the plot goes on as planned.

[William Seger]

8. The only reason anyone would buy a public asset

... is because they intend to extract more money from the public than they paid for it. Another Great Deal for Trump's chumps.

[QC]

9. Late Stage Capitalism, baby!

Now that natural economic growth is probably finished for good, it's time for the looting to begin.

[Virtual Burlesque]

10. Instead of privatizing some public assets ...

... how about publicizing more private wealth where it has accrued the thickest.

[elmac]

11. Didn't i read that saudi Arabia is investing 20 billion

in our infrastructure as part of the tRump arms deal? Toll roads & bridges. A fascist wet dream.

[Panich52]

12. Privatization's a long-time dream of Repubs...

and the things they want to do that to always means mid- & lower -classes suffer while rich are unaffected.

Already been one story lately about how badly an idea it was to have even joint public-private mgmt of highways (NJ?)

[George II]

13. The province of Ontario "privatized" Hwy 407 north of Toronto....

...and it has been a disaster.

[truthisfreedom]

15. The fleecing of America begins.

Total corruption from the master of bankruptcy.

[turbinetree]

16. What do they want to privatize next, air

[Beartracks]

17. Would "privatizing" include selling off Federal assets to Russia or the Saudis?

Just curious.

==================

[progressoid]

18. Branstad did that here with Medicaid.

Kept telling everyone privatization was going to save the state MILLIONS!

Surprise, surprise, it's not.

[Kablooie]

19. Yep. Trump arranged for Saudi Arabia to buy them all.

Such a deal!

[sinkingfeeling]

20. No.

[roomtomove]

21. Trump will bring back pay toilets....

eom

[Tanuki]

22. Trump loves how Russian public assets wound up in the hands of a few via privatization.

The creation of today's Russian oligarch class is his ideal and guiding example.

https://en.m.wikipedia.org/wiki/Privatization_in_Russia