Donald J. Trump as a candidate for president in 2016, and from day one as president, has set forth the priority to build, repair and maintain America’s crumbling infrastructure.
In 2016 then-candidate Trump called for a $1 trillion investment. Prior to the outbreak of COVID-19 there was bipartisan support for an infrastructure bill; however, there was never a consensus on how robust it should be and how it should be done. Now in the midst of this pandemic is a real opportunity to jolt the economy in a positive way and to rebuild America.
The White House last year reported that according to the most recent report card from the American Society of Civil Engineers (ASCE), America’s infrastructure received a D-plus grade. That grade takes into account tens of thousands of roads, bridges, etc., all across our nation, as well as the decaying electric grid, or our nation’s airports and train systems.
Infrastructure that is not maintained costs jobs and money — more money than is at first obvious, because it also causes lost income (in time wasted) and repairs to vehicles damaged by crumbling roads.
So, while there is little argument that America’s infrastructure is in need of immediate attention and the opportunity is here to give our economy a shot in the arm, the question is: “How do we pay for it?”
The president should consider a bond program called “MAGA Bonds,” named after his slogan to “Make America Great Again.”
Americans and institutions can invest to do their part in helping to “Make America Great Again.” Why merely go further in debt without the private sector making that expenditure an investment opportunity?
Bonds do not burden the current taxpayer and they allow big improvements to be amortized over the period of the life of the improvement. MAGA bonds could be sold in 10, 15, 20 and 25-year increments. This could adequately spread the costs out while allowing a good return for the investor.
So why bonds?
First, bonds are a great investment with a patriotic and needed purpose — think “war bonds,” but this war is against the economic effects of a virus.
Investinginbonds.com also sets forth reasons.
From highways to libraries, the bond market — even bigger than the stock market — funds necessary projects and creates jobs across the country and on the global stage, impacting the daily life of every American.
Bonds provide the capital needed before people are hired, earth moved, concrete poured, or products rolled off the factory floor — without raising taxes.
Bonds also help governments — large and small — manage cash flow, passing savings on to citizens.
Many in the country are looking for a way to help in this time of crisis, and MAGA bonds could help meet that desire. President Trump is the country’s greatest salesman. He could use his bully pulpit to promote the bonds, which truly would help “Make America Great Again.”
Now is the time to build, repair and maintain our nation and do it together, with Republicans and Democrats working for a common, worthy and needed cause.
NOTE: This post has been updated from the original to correct the contents (but not the grade) of the report card from the American Society of Civil Engineers
Bradley A. Blakeman was a deputy assistant to President George W. Bush from 2001 to 2004. A principal of the 1600 Group, a strategic communications firm, he is an adjunct professor of public policy and international affairs at Georgetown University and a frequent guest on Fox News and Fox Business.