The Highway Trust Fund is running on fumes, and this is sending certain congressmen and the administration into a tizzy. The administration insists that America’s roads are crumbling, the bridges tumbling, and Congress must raise taxes, or else. “If they don’t act by the end of the summer,” President Obama says, “federal funding for transportation projects will run out — will run out. There will be no money. The cupboard will be bare.” This is a classic Washington crisis by the numbers. Congress sets up a “trust fund” — in this case, the Highway Trust Fund — and depletes it...