OurFuture.org: The Age of Infrastructure

In order to emphasize the urban areas where most Americans live, the United States must stop the "starve-the-beast" philosophy of funding our infrastructure, a strategy that, in effect, creates a patronage system where only a few private firms profit handsomely*.

This is the main argument for the establishment of a National Infrastructure Bank, according to writer Harry Moroz on OurFuture.org, a blog by the Campaign for America's Future.

First proposed by senators Chris Dodd (D-CT) and Chuck Hagel (R-NE) after the Minnesota bridge collapse, the National Infrastructure Bank would cover projects with a total cost of $75 million or more, a state or local sponsor, and regional or national significance, which would be funded by bonds.

Such a mechanism could allow the government to undertake projects that are integral to our nation's long-term well-being, including less "sexy" (but very, very necessary) projects such as urban sewage and water treatment plants - and the funds could not be diverted to pet projects.

Indications are that the idea is taking off - both Democratic candidates have included some form of the measure in their campaigns (Clinton co-sponsored Dodd and Hagel's legislation).

* Moroz terms this "disaster capitalism".