Ed Rendell: Rebuild Our Infrastructure

[flpoljunkie]

Ed Rendell: Rebuild our infrastructure
The U.S. is in danger of becoming a third-rate economic power

Tuesday, July 27, 2010

We must focus on infrastructure investment before it's too late, and in doing so, we can create thousands upon thousands of jobs that will help revive our economy and stimulate American manufacturing, as well.

Despite the political polarization across the nation, we in elected office must show the courage and fortitude to address the challenges that face our people. Infrastructure is not, and should never become, a partisan issue.

That's why I joined Building America's Future -- a bipartisan national coalition of elected officials dedicated to infrastructure investment and reforms. Co-chaired by California Gov. Arnold Schwarzenegger, New York City Mayor Michael Bloomberg and me, the coalition firmly believes that ignoring unmet infrastructure needs runs the risk of endangering public safety and allowing the United States to become a third-rate economic power.

So what do we do?

One effective vehicle of change is a National Infrastructure Bank to fund some of the nation's highest priorities. Such a bank would leverage federal dollars in the form of grants and loans with private sector investments to fund major projects of regional and national significance.

Not only would it provide greatly needed investment to cash-strapped cities and states, it also would provide the transparency and accountability needed to prevent waste and "Bridge to Nowhere"-type projects. It would select projects based on merit and cost-benefit-analyses.

Presidents Jefferson, Lincoln, Franklin Roosevelt and Eisenhower understood the potential of investing in great projects like the Louisiana Purchase, the transcontinental railroad, rural electrification and the national highway system. Each public investment generated vast returns in safety and quality of life, as well helping to create thousands of jobs and economic growth.

It's time for that same sort of vision and leadership. Congress should establish a National Infrastructure Bank to invest in and save the foundation of our country and build for the next generation.

Ed Rendell is the governor of Pennsylvania.

http://www.post-gazette.com/pg/10208/1075479-109.stm