"Unlike private investment, inadequate public investment is part of the problem. America's infrastructure needs are so huge, and so painfully obvious, that it's mind-boggling we're not investing more. The U.S. government can now borrow for five years at about 0.75% and for 10 years at 1.75%. Both rates are far below expected inflation, making real interest rates sharply negative. Yet legions of skilled construction workers remain unemployed while we drive our cars over pothole-laden roads and creaky bridges. Does this make sense?"
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