“Infrastructure is the general term for the basic physical systems of a business, region, or nation. Examples of infrastructure include transportation systems, communication networks, sewage, water, and electric systems. These systems tend to be capital intensive and high-cost investments, and are vital to a country's economic development and prosperity.” - Investopedia
So how is America doing in the infrastructure department? Somewhere between mediocre and poor, as the following tables make painfully clear:
Biden has proposed spending $2.4 trillion on infrastructure from 2021–2030. Of that, around $900 billion would be spent on transportation repair and upgrades, including bridges, rail, roads, and transit systems. Another $490 billion would go towards clean energy and water systems, such as a next-generation electric grid and watershed protection. The balance of almost $1 trillion would go to other projects - a big chunk of which would be spent on building 1.5 million homes and public housing units.
Would Biden’s infrastructure plan get the job done? Could the states’ infrastructure grades improve to a B average? It all depends. Infrastructure projects are often plagued by corruption, conflict, poor planning and high cost overruns. Since they are so expensive, politicians work hard to sell infrastructure projects to taxpayers and in the process tend to over-promise and under-deliver. Plus, federal largesse and competence alone couldn’t guarantee glorious results anyway. There are other actors in this drama, such as the public, states, business community and a myriad of special interest groups - all wanting a say and some influence.
I’m hoping for the best - but expecting somewhat less than that.
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References:
Biden's Jobs and Infrastructure Plans by Jim Probasco/Investopedia. Updated Nov 11, 2020
How to get infrastructure right The Economist. January 2, 2021
State Infrastructure Facts American Society of Civil Engineers. Accessed February 22-23, 2021