'Useless expenditure' of a bankrupt country

Scarcely a week goes by without a call from President Obama for more "investment" in transportation infrastructure. CNN summarizes this year's State of the Union address: President Obama renewed his call to improve the nation's "crumbling" infrastructure during his State of the Union address Tuesday, saying it will create jobs and help the nation compete in the global economy. Singling out roads, bridges and railways, Obama said the U.S. "infrastructure used to be the best, but our lead has slipped." "Countries in Europe and Russia invest more in their roads and railways than we do," the president said. "China is building faster trains and newer airports." He's a bit like the guy who sees his neighbor's new Cadillac Escalade and tries to convince his wife that if they traded in the 1999 Explorer, they wouldn't have to worry about breaking down, they'd be safer and never be late for work, they'd get promotions for their timeliness and they'd end up with more money in their pockets....(Read Full Post)