To fix our infrastructure, from dilapidated levees to congested roadways and ports, the American Society of Civil Engineers (ASCE) has estimated that the country needs to spend $1.6 trillion over five years. Only $1 trillion of that, the organization says, has been allocated or promised.

"Promised" ??? Even that doesn't sound encouraging. But Mish has the key point:

Instead of invading Iraq, a country that did not attack us and was certainly no threat against the US in any way shape or form, we could have rebuilt much of our infrastructure for the same price.

Hmm invading Iraq and ... higher oil prices anyways, plus decaying infrastructure. That was not a very good trade.

In fact, the total cost of the war is likely to drain resources that could otherwise go to our infrastructure and productive base for years to come, causing the US to lag big-time.

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