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Infrastructure woes take toll on US economy-engineers

Via: Reuters

Failing infrastructure will cost the United States billions of dollars in lost productivity, income and trade in coming decades, according to a civil engineering report released on Wednesday that said the impact on gross domestic product could reach $2.7 TRILLION.

The American Society of Civil Engineers regularly tallies the amount needed to upkeep declining U.S. roads, bridges and waterways. It said the country will need to invest roughly $220 billion annually to maintain the country’s infrastructure in “MINIMUM TOLERABLE CONDITIONS,”

It said the gap between infrastructure needs and federal funding is growing. (yeah, well no kidding)

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Without improvement to the country’s transportation system, the economy will lose 400,000 jobs by 2040, it said, and income will take a hit.

“By 2040 American households will be not only earning less in income; they will also be spending $54 billion more on transportation costs than they would with a fully sufficient system,” it said.

http://www.reuters.com/article/2011/07/27/usa-economy-infrastructure-idUSN1E76Q0J120110727

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July 28, 2011 - Posted by | 2012, GOP morons | , , , , , , , , , ,

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