Authors: Philip Bump
Read Phaedra Ellis-Lamkins' piece at The Hill about why this is the moment to invest in infrastructure.
Our economy belongs to the private sector. But the private sector isn’t investing heavily in jobs of any kind. In the first eighteen months after the recession ended, 88 percent of economic growth went to corporate profits. 1% went to wages and salaries. More importantly, in a break from a past practice, a much smaller percentage of those profits were reinvested in the companies, instead being applied to buybacks and mergers.
So it seems it’s up to Washington....
Let’s let the government hire the private sector to do work we need to have done. Let’s get those unemployed construction workers back on the job.
And let’s do it now.