Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (41349)	11/13/2003 12:25:36 AM
From: Raymond Duray	Read Replies (1) of 74559

elmat, It's a minor quibble, but I think this comparison is a bit simplistic: In (California) the 1960s, public works and infrastructure projects constituted nearly 20 percent of state spending. Today, they represent closer to 3 percent of spending, The infrastructure spending in California in the 1960s was predominantly driven by massive spending on the freeway system and the State Water Project. Both of which are now being enjoyed by the citizens of the state and are in need of nothing more at this time other than maintenance at a relatively modest cost. There is no pressing need in California to boost infrastructure spending to any dramatic extent at present.

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