By Kevin Craig, Matzav.com
The recent recession in the United States of America has hurt its economy in a major way. There is no doubt that the country is recuperating from the aftermath, but experts still feel that the infrastructure of the county needs improvement. The country, they feel, is in dire need of further investment in the education sector to support the long term financial goals.
Experts have repeatedly stressed on the need to invest in sectors that are going to produce substantial job opportunities that in turn will aid the country in becoming more self-reliant as far as energy production is concerned.
Infrastructure is the most important factor determining a country’s financial future by influencing employment, exports, household income. The experts opine that the country still has a long way to go before it actually fulfills all its infrastructural ambitions. The country has been advancing modestly in this respect but it is quite clear that the it is still grappling with considerable backlog as far as outstanding maintenance is concerned. Here is a look at The 2013 report card of the country’s infrastructural set up.
The state, local and federal governments are facing the most daunting challenge of improve investments in bridges by 8 billion annually for the 76 billion already required for the deficient bridges across the country. At present, the deficient bridges are being used by more than two hundred million people. By 2018, the country needs to invest $20.5 billion per year, as against the 12.8 billion at present. As per the report, the number of such deficient bridges has come down, resulting in improved grade, C+.
While, the bridges managed to earn better scores the aviation sector scored a D. The year 2011 saw 33 million more flights than the year 2000. It has been predicted that the economy will suffer a heavy blow with congestion and delay costs triggering to 34 billion dollars in the year 2020 and 63 billion dollars in the year 2040.
Roads: Genuine efforts to step up measures against roadside fatalities have helped the country to score better grades (D) in the present year. As per an estimation drawn by the Federal Highway Administration, 170 billion dollars (in capital) would be required as an investment on an annual basis to achieve desirable standards for the roads.
It has been predicted that in the near future, one of the most daunting challenges to be faced by the nation would be the availability of energy as natural gas, electricity and oil. At present the country is primarily banking on old pipeline distribution systems. There has not been any major change in the grades, in this case, and they remain at D+.
3) Facilities for the Public
Schools: As already mentioned above, education is one of the most prominent sectors in the country that is in dire need of investments. Most of the schools here were constructed for imparting education for baby boomers who, at present, are on the verge of retirement from the workforce. No doubt the schools earned paltry grades of D this year. Investments on building of schools had significantly reduced to 10 billion dollars in the year 2012.
As per the glimpses of the 2013 report card of the country’s infrastructure, it might be stated that the country needs to step up investments to a large extent in order to achieve the ideal level of infrastructural standards. However, it is also clear that the nation is making slow but steady progress to that end. The needs are clearly specified and further investments to fulfill those needs are mooted. As such, one can only see the nation achieving its desired goals in the coming days.
Mr. K. Craig is a financial writer by profession and has specialization in dealing with financial problems as well as its solutions and also written some great articles on refinance, mortgage refinance, credit counseling, credit repair, debt management and so on. At present he is writing for UnitedFinances.