August 16, 2017


What Happened to Trump's Infrastructure Boom? Spending Is Actually Falling (Rob Garver, August 15, 2017, Fiscal Times)

Promises of huge increases in federal infrastructure spending were a regular feature of Donald Trump's presidential campaign, and his inaugural address evoked images of gleaming new airports, modern energy delivery systems and improved highways and bridges. In the White House, he has repeatedly echoed those promises, even announcing an "Infrastructure Week" that, as it turned out, was overshadowed by testimony from former Federal Bureau of Investigation director James Comey about his interactions with Trump.

Now, well past six months into his term, the construction industry would like to know where those infrastructure dollars are. While a slowly improving economy has been helping to improve the fortunes of contractors and associated businesses over the first half of this year, spending by federal, state and local governments has had almost nothing to do with it.

"Construction spending is still increasing overall but growth has become much more uneven across categories in recent months," said Ken Simonson, Chief Economist for the Associated General Contractors of America in a statement earlier this month. "There has been a steep decline in public investment in nearly all types of construction over the past year."

Posted by at August 16, 2017 1:10 PM