The US should spend $1.7T to correct our current infrastructure deficit this year and an extra $160 billion a year – or $1.1T — to meet our infrastructure needs through 2020.
Even though we do not have the $1.7T for current needs and the $1.1T for later, we would be penny wise and pound foolish not to borrow and spend. The $160 billion extra over each of the next seven years would alone raise GDP by $3.1T (a three to one return) and add 3.5 million jobs! What a bonanza.