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What the next president's No.1 priority should be
CNBC ^ | June 20, 2016 | James Simons

Posted on 06/23/2016 9:42:05 AM PDT by Tolerance Sucks Rocks

I recently had the privilege and the pleasure of delivering the commencement address at UC Berkeley's College of Engineering. In preparing I reflected on the sorry state of America's infrastructure and the role engineers and government can and should play in putting things back together.

In my talk I pointed out that Congress is largely populated with trained lawyers, individuals who are schooled in the art of discourse, but unschooled in the art (and excitement) of creating and building. With 200 lawyers in Congress and only 8 engineers, it's clear that decisions to invest in our infrastructure are being managed by those who focus on debating one another rather than on conceiving important new projects - projects that would create jobs, spur on our economy, and energize our population. I urged those graduates in the audience to consider a career in politics, and from the applause at that exhortation perhaps some will take up the challenge.

In the meantime, the country's infrastructure is in a shambles. Highways and roads, bridges, tunnels, water systems, airports, mass transit, and perhaps most notably our electric grid (for reasons of national security as well as function) are all badly in need of rejuvenation. According to the National Economic Council, roughly 65 percent of America's major roadways fail to achieve a rating of good condition, let alone excellent. The American Society of Civil Engineers (ASCE) states that almost 25 percent of U.S. bridges are either structurally deficient or functionally obsolete. We have not built a major new airport in 20 years, and our air-traffic control systems are woefully behind advancements in today's technology. The ASCE estimates that an investment of $3.6 trillion by 2020 is required to bring our infrastructure to an acceptable level. Not even excellent mind you, but merely acceptable.

How did such a state come about? In the past, the Federal Government, as well as state and local governments, spearheaded the creation and renewal of U.S. infrastructure. The Erie Canal, which opened the interior of the United States to commerce with the east coast and ultimately with Europe; the intercontinental railway, which tied the entire country together; the Tennessee Valley Authority, which electrified and modernized a great swath of rural America; the Interstate Highway System, on which all of us have traveled; and a myriad of other undertakings were all funded or enabled by Government. Such efforts not only created productive projects but made us all proud of our country.

But in recent years our governments have backed away from such transformational activity, in particular, the Federal government. Having spent a fortune on the Iraq war, our swollen deficits made Congress reluctant to invest funds in domestic projects, even though such investments would, by any measure, have achieved a marvelous return. Having spent so much on destruction overseas we were loath to spend money on construction at home.

In 2008, we had a perfect opportunity. Millions were out of jobs, and there were thousands of projects worth doing. But instead of undertaking anything constructive, the members of our Congress did nothing but argue with each other, and as a result virtually nothing got done – particularly nothing that would truly strengthen our nation. Our politicians focused on tearing each other down rather than building our country up.

As the 2016 presidential election approaches, and a new administration prepares to take office we again have an opportunity to make the kind of public investments that would revitalize our nation, create jobs at a time when they are badly needed, and modernize our dilapidated foundation. It's time to seize this opportunity and not let it pass us by. Outnumbered as they are, we can only hope the engineers will at last prevail.

Commentary by Dr. James Simons, a prize winning mathematician, founder of Renaissance Technologies, and chair of the Simons Foundation, which is focused on supporting scientific research.


TOPICS: Business/Economy; Editorial; Government; News/Current Events; Politics/Elections
KEYWORDS: donaldtrump; election2016; hillaryclinton; infrastructure
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1 posted on 06/23/2016 9:42:05 AM PDT by Tolerance Sucks Rocks
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To: Tolerance Sucks Rocks

I don’t see that happening with President Trump.


2 posted on 06/23/2016 9:43:58 AM PDT by WENDLE (CRUSH THESE TRAITORS TO TRUMP)
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To: Tolerance Sucks Rocks

Congress passed Porkukus early in Obama’s first term. It was supposed to have gone to infrastructure. Where the heck did that money go????

So I would note that congress didn’t exactly do nothing. They did pass porkulus but for unknown reasons we have nothing to show for it.


3 posted on 06/23/2016 9:45:26 AM PDT by Dilbert San Diego
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To: Tolerance Sucks Rocks

“... the country’s infrastructure is in a shambles. Highways and roads, bridges, tunnels, water systems, airports, mass transit,...”

WAIT A MINUTE. Didn’t Obama demand and receive a $trillion dollar spending plan from congress for this exact purpose?

WHERE THE HELL DID ALL THAT MONEY GO?


4 posted on 06/23/2016 9:45:48 AM PDT by Flavious_Maximus
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To: Tolerance Sucks Rocks
"In 2008, we had a perfect opportunity. Millions were out of jobs, and there were thousands of projects worth doing. But instead of undertaking anything constructive, the members of our Congress did nothing but argue with each other, and as a result virtually nothing got done – particularly nothing that would truly strengthen our nation."

BS. The media trying to rewrite history again. For 2 years after 2008 dems had a filibuster proof majority in both houses of congress and were able to and did ram through every single thing they wanted. Their policies just failed miserably with regard to the economy.

5 posted on 06/23/2016 9:46:27 AM PDT by circlecity
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To: Flavious_Maximus
WHERE THE HELL DID ALL THAT MONEY GO?

Social programs

6 posted on 06/23/2016 9:46:32 AM PDT by 1Old Pro
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To: Tolerance Sucks Rocks

Firing 20,000 Federal employees per day for the first 90 days.


7 posted on 06/23/2016 9:46:36 AM PDT by Buckeye McFrog
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To: Tolerance Sucks Rocks
As important as refurbishing our infrastructure is, our immediate concern needs to be:

1) CLOSE the Border!

2) STOP ALL immigration, muslim and others.

8 posted on 06/23/2016 9:47:00 AM PDT by PROCON (Americans First or Terrorists First - Choose in November)
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To: Dilbert San Diego

Actually, only a small portion of the Porkulus was dedicated to infrastructure.


9 posted on 06/23/2016 9:48:13 AM PDT by Tolerance Sucks Rocks (Cuckservative: a "conservative" willing to raise another country's ideology in his own country)
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To: Dilbert San Diego
Where the heck did that money go????

It went to state and local governments, to keep their unionized workforces employed, so they would not suffer layoffs like so many did in the private sector.

Mass layoffs of unionized public employees would have pulled the power cord from the Democrats' money machine and put a serious crimp in their electoral viability.


10 posted on 06/23/2016 9:48:20 AM PDT by Buckeye McFrog
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To: Tolerance Sucks Rocks

My first preference would be to UNDO every effing thing that Obama ever did, thought about, or even talked about. Undo it all. Every damn bit of it.


11 posted on 06/23/2016 9:48:43 AM PDT by Gaffer
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To: Flavious_Maximus

See #9.


12 posted on 06/23/2016 9:48:48 AM PDT by Tolerance Sucks Rocks (Cuckservative: a "conservative" willing to raise another country's ideology in his own country)
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To: Dilbert San Diego

“So I would note that congress didn’t exactly do nothing. They did pass porkulus but for unknown reasons we have nothing to show for it.”
_________________________________________________

I’ll take a wild guess: corruption?


13 posted on 06/23/2016 9:49:10 AM PDT by Paulie (America without Christ is like a Chemistry book without the periodic table.)
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To: Tolerance Sucks Rocks

If we had a real president, the priority would be on returning to the first principles of our republic.

The first step to restoring liberty, and justice, and the rule of law, and self-government, and the sovereignty of We the People in this country, is our own personal, individual acknowledgment of the sovereignty of God, and the reality of His objective, self-evident Truth, and the supremacy of the natural law He created. Once you sort that out, everything else is relatively easy to figure out and fix.


14 posted on 06/23/2016 9:49:36 AM PDT by EternalVigilance
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To: PROCON

Before they go, the illegals can be put on chain gangs filling in potholes.

Two birds with one stone.


15 posted on 06/23/2016 9:50:35 AM PDT by MUDDOG
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To: Tolerance Sucks Rocks
Wait just a cotton picking minute.

The Erie Canal and the transcontinental railroad were private ventures!

16 posted on 06/23/2016 9:51:26 AM PDT by BenLurkin (The above is not a statement of fact. It is either satire or opinion. Or both.)
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To: EternalVigilance

Look at what FDR built and what Obama built

The money was stolen


17 posted on 06/23/2016 9:53:37 AM PDT by Hojczyk
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To: WENDLE

Oh I do...

He’ll start with this Big Wall you see, and move on from there. After our border is secure and jobs start coming back to the US, our country will be rich enough to reinvest in infrastructure just like China and others have been doing.

It’s all part of MAGA!


18 posted on 06/23/2016 9:55:54 AM PDT by bigbob
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To: MUDDOG

Exactly, instead of a Civilian Conservation Corps, it’ll be a Criminal Conservation Corps.


19 posted on 06/23/2016 9:55:55 AM PDT by PROCON (Americans First or Terrorists First - Choose in November)
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To: bigbob

Just realized something:

MAGA = Make America Great Again

MARA = Make America Rich Again

MAR-A-LAGO = Trump resort in Palm Beach

MARA-MAGA = TRUMP 2016!!!


20 posted on 06/23/2016 9:58:07 AM PDT by bigbob
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