Infrastructure and American Society of Civil Engineers

American Society of Civil Engineers: If you have been to New Yorks LaGuardia airport recently, taken a train during Londons rush hour, tried to drive in Lagos or endured one of Indias ubiquitous power failures, you have firsthand knowledge of the worlds infrastructure deficit, according to The Chronicle Herald. Much of the money to plug the gap needs to come from the public purse. Even in an age of austerity, many governments should be spending more. With the economy weak and borrowing cheap, it is absurd that Americas public infrastructure spending is at a 20-year low, even as the countrys roads, bridges and dams are rated D by the American Society of Civil Engineers. The most cash-strapped emerging economies have room to cut inefficient subsidies, such as those for fuel, and use the money to build better roads and sewers and According to the World Economic Forum, global spending on basic infrastructure transportation, power, water and communications currently amounts to $2.7 trillion a year when it ought to be $3.7 trillion. The gap is almost as big as South Koreas GDP, and it is likely to grow fast. (www.immigrantscanada.com). As reported in the news.