Gongol.com Archives: January 2018
Briefly hinted at the State of the Union, a giant proposal that ought to have some attention. $1.5 trillion is around $4,600 per American. We probably need to spend that much (or more) on a wide range of infrastructure projects, but the needs range widely and call for a lot of technocratic judgment. Saying you'll spend $1.5 trillion on infrastructure is like saying you're going to lose 100 lbs. The admission means you probably need to do it, but it matters a great deal whether you're really changing your lifestyle or just banking it all on a two-week juice cleanse. Low interest rates today are a stupendous incentive to borrow for the long term on work that would have lasting value, but whenever "infrastructure" projects are done as a means of putting people to work, the work that is done may not be an efficient use of the capital.
At the Congressional baseball game, and again at the train crash en route to the Republican retreat. It is tragic that one person should have encountered circumstances like that twice in such a short time, but good for him for being prepared to do good things.
A Pew research piece says that 31.9% of American adults live in households containing an adult who isn't the head of household, a spouse or partner, or an adult child of roughly ordinary college age. Of note: "Today, 14% of adults living in someone else's household are a parent of the household head, up from 7% in 1995."
Your country, perhaps. But your government, never.