INTEREST in the nation’s infrastructure is rising to a level not seen since the debate over the Interstate Highway System in the 1950s. Propelled by the prospects of a deep recession, President-elect Barack Obama is pressing for major new federal spending to boost employment. He is committed to a major new economic stimulus, including potentially hundreds of billions of dollars for the nation’s roads, highways, airports, ports, and transit systems.
Keynesian ideas have received a new lease on intellectual life. Prominent economists, including New York Times columnist Paul Krugman, have exhorted the new president to be bold. Krugman is calling for a stimulus package of $600 billion or more.
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