The scoop: American infrastructure is aging and the problem is two-fold. Large cities need federal funding to support ambitious projects, while small cities can't afford any new projects.
Disaster in Miami, Detroit: As the story unfolds, it appears the Surfside condo tower likely collapsed from deteriorating infrastructure. In the Midwest, Detroit suffered from unprecedented rain, but also decades of underinvestment.
Rising cost of construction: US infrastructure rebuilds are extremely expensive, 6th highest in the world. Despite that, we dedicate a lower percentage of our GDP to infrastructure than the EU or China.
One solution: Prioritize domestic infrastructure projects over foreign interventionism to fund new projects. Don't just use deficit money to fund it. In fact, money alone will not be sufficient to ensure new construction is a success.
Successful federal projects require careful planning, strategic management and people-first politics. America needs to rebuild itself bearing both today's economy and future economies in mind. It's important we don't forget either.
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