I'm a huge supporter of infrastructure spending - both for the multiple economic benefits of large-scale infrastructure projects and the more mundane reason that the things you build are good to have: roads, modern rail systems, airports, bridges that don't collapse, modern energy infrastructure. The list is almost endless. This makes a lot of people excited about Donald Trump's push for infrastructure spending. But put on the brakes and don't get excited. As I mentioned a few days ago, Trump isn't proposing major spending on infrastructure projects. He's proposing 'public private partnerships', which as we explained here are in most cases efficient ways to sell off public goods to private corporations.
But it's actually even worse than that.Read More →