Ira Stoll on Why Government-Funded Infrastructure Is a Terrible Idea

The new Congress hasn’t even been elected
yet, but it’s already under pressure to add billions of dollars in
new government spending to pay for “infrastructure.” According to
New York Times columnist Paul Krugman, for example, “We
have huge infrastructure needs, especially in water and
transportation, and the federal government can borrow incredibly
cheaply…. So borrowing to build roads, repair sewers and more
seems like a no-brainer.” In response, Ira Stoll offers nine
reasons why a burst of federal borrowing or taxing to pay for
roads, bridges, sewers, and airport terminals would be a disastrous
idea.

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