Whenever you hear the president (or anyone) talk about federal infrastructure spending — RUN!
Ron Paul Institute Board Member, David Stockman, explained earlier today on Fox Business:
“Infrastructure will take care of itself. 90% of infrastructure is state and local. 90% of infrastructure can be funded with user fees. We don’t need to be hitting the federal budget, which is bleeding red ink…Sewer and water is local. Streets and highways are local. Buses and subways are local. If the local people are unwilling to put in the fare box or tax themselves, that’s their choice. Let them live with the consequences. When we take it to Washington, it becomes one giant pork barrel. We’re already spending more on highways than ever before…”
Watch Stockman’s entire interview below: