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Why Trump's So-Called Infrastructure Plan Is Good for Wall Street But Bad for America


#1

Why Trump's So-Called Infrastructure Plan Is Good for Wall Street But Bad for America

Bernie Sanders

Donald Trump’s so-called infrastructure plan is a huge giveaway to Wall Street that fails to create the millions of jobs we need to modernize our roads, bridges, water systems, rail, airports, levees and dams.


#2

Bernie,

You are the greatest! I wish we had 100 like you in Congress--maybe we could, with public financing of campaigns. Love all the examples you gave, all over the country, of the rip-offs that occur when our common assets are given over to profiteers..


#3

Tell it like it is uncle Bernie - the people's president!

As usual the quisling DINO Dems remain complicit and only a weak opposition party - like the NY Senators and Congress member who refuse to support single payer, making one weak jive-ass excuse after another and remaining utterly silent!


#4

Thanx, Bernie, this says it all. The USA is being sold(out) to the highest bidder and citizens get screwed in the process, with higher rates than municipally or federally run services; after all there has to be a big profit involved. We are witnessing the demise of the US as more and more money gets siphoned by the richest entities in the history of the world. Just look at what happened to the Soviet Union before it fell: more money to military, more weapons sales, selling, privatizing public services, failing infrastructure, unemployment, loss of healthcare and life expectancy, more homelessness, poverty, etc; you get the picture. Unless this ridiculous state of affairs in foreign and domestic matters reverses quickly, the same will happen here and it won't be pretty. Only the ultra wealthy, perhaps, will do OK, maybe; the rest will collapse as most other, but not all, empires have throughout the ages. The reverse must happen soon or the US also will go down the memory holes of history.


#5

At the rate that they are inciting war, they'll have to take what luxuries they can down to the bunkers.


#6

Love ya Bernie but you have to stop saying that investing $1 trillion in infrastructure will create 15 million jobs. It would if all $1 trillion were spent in one year but those jobs would only last 1 year.

If spent over 5 years it would create about 3 million jobs each lasting 5 years or if spent over 10 years would create 1.5 million jobs lasting 10 years, which would be great......no need to exaggerate,


#7

Nicely done. Welcome, at last, to the world of the ShunPikers!
There are so many other stories and basic facts associated with the growth of the several industries with high priced lobbyists that represent tolling. You could have footnoted the many studies on the issue including the August 2016 Congressional Research Service that goes something like "Tolling U.S. Highways" that determined the old fashioned way of collecting fuel excise taxes the wholesale level .. when the refinery passes it on to those who move fuel to stations - is 10% more economical than ALL the virtual tolling scams. The load of extra overhead for borrowing funds, tolling infrastructure to talk with required transponders (another industry), then toll collectors, toll fee camera inspectors, toll fee billing toll fee scofflaw collectors funds for dividends for investors whose money does re-paving. Not mentioned examples of Pennsylvania and others tired of paying tolls originally slated to end when the project is paid off. Those California examples include multiple bankruptcies that all required payment of bankers and lawyers in court followed with more banks to issue bonds or private equity to raise capital to start the process over again .. citizens come back with years and years longer as estimated date their beloved toll road will be paid off and they will be "free"! ! How about all the politicians and toll authority managers who go to jail that Illinois governor Blagovich would have been indicted for the easy money associated with municipal bond skim just like the 8 in PA including the former top dog of the Senate who went to jail. All of this is documented and retrievable if only the exhalted ruling class chooses to want to know history to chart a better way. And don't get me started about all the Public Private (puke) Partnerships with their fun "do not compete" clauses in contracts signed by States that forbid municipalities / counties from ever building a road that just happens to go in the same direction as the toll road given away to the generally foreign corporations that invest.
And then there is RedFlex camera traffic ticket enforcement and how decreasing the time sync of a yellow light by as little as a 1/4 second results in 110% increase in the number of obscenely priced citations mailed out to greet voters arriving home!
Bernie, want references, just ask
Just looked at the news - New York Times: Public-Private Projects Where the Public Pays and Pays (goldstein & Cohen 6Jun2017) one quote:
“There is a significant misunderstanding of the way public-private partnerships actually work,” said David Besanko, a professor at the Kellogg School of Management at Northwestern University. “Taxpayers or users are going to need to pay for private infrastructure just as they need to pay for public infrastructure. You’re going to need to get revenues from somewhere.”


#8

Another example of the perils of privatization of public projects happened (and is ongoing) in Arizona with water. While living in AZ, my family endured the anguish of having our public water source sold to a private entity (very wealthy family from the East). No sooner was the ink dry on the paperwork, the rates skyrocketed and within months, the water quality plummeted. The water rates continued to increase almost monthly until the city of Scottsdale intervened due to public outcry but the damage had been done. Privatization of public services/projects NEVER works: the private owners have no stake in the right livelihood and health of the consumers/taxpayers or the community as a whole and are strictly in it for the money/profit...and during their ownership they invest NOTHING in maintenance/improvements or regulatory compliance.

GO BERNIE, GO! We love you!!!


#9

Bernie, thanks once again for telling it like it is! To the Trump administration, and its Orthodoxy-worshipping Republican gang in Congress, "Infrastructure Improvement" is code for Huge Scale Privatization.

Public infrastucture should NEVER be leased to, sold to, or operated by private equity funds or corporations, simply because the returns expected/demanded by their investors will always and inevitably result in poorer quality service, less maintenance, and higher costs for the public.


#10

This article is a very good description of what a Trump/Republican "Infrastructure" Plan would be.

But......no matter what we are discussing on this site, in this case an awful Trump/Republican goal,
there are several responders, no matter what the topic, who seize the chance to bash the Democrats over the head. It is becoming petty and tiresome. There is very little that Democrats can do to stop this. They don't have the numbers. We need to be angry at Republicans now!


#11

The Republicans didn't gain power in a vacuum, nighthawk. In 2018, they're looking to consolidate power.

How did they rise to this commanding electoral lead? Because the D-Party plays on their turf, gives ground, and mostly exists to eat up corporate hand outs.

You mentioned petty and tiresome. Yep, that encapsulates the mindset that supports the duopoly.


#12

Trump's infrastructure plan needs to include as many bridge projects as possible since so many additional Murkins will be living beneath bridges as Trump and the GOP accelerate the reaming of the 99%.


#13

Sanders the journalist! I hear tidbits about Trumps plan on infrastructure but not much else,all the focus on Russia------Sanders hits a home run with facts. Thank You.-----I would love to hear from some of these republicans in Indiana who pay a $9 toll.


#14

Of course we need to be angry at Republicans now, but I also make no apologies for calling out the Democrats on their Neoliberalism, like many do here posting on CD. BTW, Hillary also supported a public-private infrastructure program.Yes, Neoliberalism on the part of both parties (the difference being social issues) is getting tiresome when the D-Party only pumps money to like-minded establishment candidates and ignore any Progressive running as a Democrat. How does that change the party from within? Until we're finally rid of the capitalists in the Democratic party who don't support single payer, unions, a progressive tax system, regulations, a real trade policy, direct democracy, the commons, etc., how will things change for the better? These issues affect everyone economically. Trump's connections with Russia need to be investigated, but the "meddling" is really getting old. The DNC "meddled," the Republicans suppress the vote and gerrymander and we have voting machines controlled by private companies. Who has allowed this to go on all this time?


#15

The infrastructure -- whether it's private or public -- is feeding energy production and thus fossil fuels. It is carbon-intensive. All that carbon dioxide is going up into the global (not just US!) atmosphere and contributing to rising global (again, not just US!) temperatures. So the question isn't just about a private or public infrastructure and that seems to be missing from the discussions (http://www.burningquestion.info/).

While electric cars or buses may exist, they are still running WITH vehicles that use fossil fuels. Worse, while the US may have stopped (or at least did stop or slow down before Trump) coal production, other parts of the world like China are using coal and that carbon dioxide is still entering atmosphere. Major food multinationals are a primary engine with transporting foods throughout the country and world. Moreover, the food is obtained with the use of equipment that use fossil fuels, both in terms of farming machines and for irrigation. The roads tend to increase carbon-reliant suburbia and exurbia. In VT, this may not so noticeable. It's a very small state and, as a result, the dairy farmers and residents do not have to drive so far. Thus VT isn't as carbon-intensive state as other parts of the US like the Midwest.


#16

Yo, Bernie! Earth is burning. Combine that with our America that is rapidly becoming a 50 state sacrifice zone. There are sooooo many high crimes going on simultaneously.

Corporate media can keep this horrific story that you document so well from We the People - until the next catastrophe. This is UNACCEPTABLE! How do We the People clear out the corporate free-loaders in the DNC, before 2020? This is what we need to know. I say boycott. Picket the precinct offices. What else? Outreach to all other movements and political parties for a GRAND COALITION to bring down the anti-democratic corporate thugs who are complicit in what you write about? We American working people have just so much going on that is not okay.


#17

Right on Tim-Ho!
How on earth can we the public afford to USE toll roads when we can't afford to build them?! In a pool in Phoenix I overheard some of Colorados obviously more well to do as they were stating their being reluctantly OK with paying an additional $40 a DAY to use a toll road to save 40 minutes (Did the private road builders really find a route to allow for that much of an efficiency improvement or is it more likely that the toll roads are under patrolled and more like an autobahn for the wealthy who can afford to pay the 8-10K annually for exclusive use?) and they still pay gas taxes. They are getting all kinds of pot tax revenue now that could have paid for it, or better yet put the cost on the public in proportion to WHAT they drive by adding to the gas taxes. Think of them as holistically generated revenue! Drive a lot or a gas guzzler, you pay more but the roads are maintained for all! If we can't afford to raise the gas tax when fuel is $2 a gallon, the when, when it's back to $4 and the roads and bridges are failing?
Raise the gas tax now, and don't ever let it go below $3 a gallon, and it must stay relative to the current increase, so $.60 here in Az per gallon