Cargo Business Newswire

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Wednesday, January 25, 2012

Top Story

U.S. War savings into infrastructure?

In his State of the Union speech last night President Barack Obama proposed pumping half of what he said would be savings from the end of American involvement in wars in Afghanistan and Iraq into a U.S. infrastructure that ranked 16th in the world last year.

"So much of America needs to be rebuilt," the President said in his speech, without offering any specific monetary figures, however the Congressional Budget Office estimates the war chest savings would be approximately $440 billion.

The World Economic Forum recently released its global infrastructure competitiveness report for 2011-1012 and the U.S. came it at 16th, including 23rd for port infrastructure.

President Obama proposed a $556 billion, six-year transportation last year that included funding for high-speed rail that hit a dead-end in Congress.

For the full Reuters story: www.chicagotribune.com