Morning Jolt: The Worst Possible Timing for an Infrastructure-Spending Spree

On the menu today: As New Hampshire GOP governor Chris Sununu observed, Congress allocated $1.2 trillion for new infrastructure projects, but none of it has been spent yet, which means yet another inflationary pressure is looming. What's more, 50 states and an untold number of localities are about to try to launch hundreds of large-scale infrastructure projects simultaneously during a period of runaway inflation, lingering supply-chain problems, price spikes in raw materials, a construction-labor shortage, and an unprecedented spike in the cost of diesel fuel. This is just about the worst possible time to try to start a massive number of construction projects from coast to coast.

The Infrastructure-Spending Spree That Shouldn't Be

New Hampshire GOP governor Chris Sununu appeared on yesterday's Three Martini Lunch podcast and said:

Remember, this Biden administration has authorized all of this money to be spent. But this infrastructure money? Not a penny has been spent yet. ...

TODAY'S MORNING JOLT WITH JIM GERAGHTY IS PRESENTED BY

WITH JIM GERAGHTY May 12 2022 WITH JIM GERAGHTY May 12 2022 The Worst Possible Timing for an Infrastructure-Spending Spree On the menu today: As New Hampshire GOP governor Chris Sununu observed, Congress allocated $1.2 trillion for new infrastructure projects, but none of it has been spent yet, which means yet another inflationary pressure is looming. What's more, 50 states and an untold number of localities are about to try to launch hundreds of large-scale infrastructure projects simultaneously during a period of runaway inflation, lingering supply-chain problems, price spikes in raw materials, a construction-labor shortage, and an unprecedented spike in the cost of diesel fuel. This is just about the worst possible time to try to start a massive number of construction projects from coast to coast. The Infrastructure-Spending Spree That Shouldn't Be New Hampshire GOP governor Chris Sununu appeared on yesterday's Three Martini Lunch podcast and said: Remember, this Biden administration has authorized all of this money to be spent. But this infrastructure money? Not a penny has been spent yet. ...   READ MORE

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