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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Bearcatbob who wrote (109587)3/15/2010 1:16:25 PM
From: John Metcalf3 Recommendations  Read Replies (3) of 116555
 
"the interstate highway system has stimulated the economy" --

Of course you are referring to the National Interstate and Defense Highways Act of 1956, which was justified by the need to move military assets, and missiles, across the country. Interstate highways undoubtedly are important infrastructure that have lead to development; a national opening of land. It's unfortunate that those highways couldn't have been built without being a military priority.

The overwhelming majority of Federal expenditures are entitlements, mandatory expenditures, military, and interest on debt. Because entitlements and interest expense cannot be changed, the only way to fund economic development is to attach it to a military priority. Thus, we have the military spinoffs that Hawk listed. Unfortunately, that is all we'll ever have, and no large undertaking will ever be considered on economic merit.
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