Trump advisers call for privatizing some public assets to build new infrastructure
Source: Washington Post
The Trump administration, determined to overhaul and modernize the nations infrastructure, is drafting plans to privatize some public assets such as airports, bridges, highway rest stops and other facilities, according to top officials and advisers.
In his proposed budget released Tuesday, President Trump called for spending $200 billion over 10 years to incentivize private, state and local spending on infrastructure.
Trump advisers said that to entice state and local governments to sell some of their assets, the administration is considering paying them a bonus. The proceeds of the sales would then go to other infrastructure projects. Australia has pursued a similar policy, which it calls asset recycling, prompting the 99-year lease of a state-owned electrical grid to pay for improvements to the Sydney Metro, among other projects.
In the United States, Chicago Mayor Rahm Emanuel (D) explored privatizing Midway International Airport several years ago but dropped the idea in 2013, after a key bidder backed away. Transportation Secretary Elaine Chao says such projects should be encouraged.
Read more: https://www.washingtonpost.com/local/trafficandcommuting/trump-advisers-call-for-selling-off-old-assets-to-build-new-infrastructure/2017/05/23/657aa2c6-2f53-11e7-9534-00e4656c22aa_story.html
iluvtennis
(19,852 posts)...although Australia appears to have made something work, I don't trust anything from the Dumpty admin. They are only out to line the pockets of the wealthy and themselves.
Lithos
(26,403 posts)Private investors will walk away when the going gets tough...
The thing is, projects such as Midway can not suffer this gap, this disconnect and need continuity which is only provided by public projects during the worst of times. Introducing private investing means that all we're doing is skimming off the best of times to give as profit to disinterested individuals who will flee when it comes to the moment of truth.
In the corporate world, you can shut down, go out of business; in the public world, you can't. And what happens is the public gets left holding the end up sans the profit (emergency funding) which was bled out to private individuals.
L-
dalton99a
(81,475 posts)not fooled
(5,801 posts)results from the failure to adequately tax the wealthy and corporations. Or, rather, the recent failure...we used to, but they have succeeded in buying their way out of their fair share.
Oh, and dump doesn't really care about fixing infrastructure. He cares about selling public assets to his cronies. Oligarchy 101.
notdarkyet
(2,226 posts)Thinks he can sell off the whole United States but it belongs to the people, children and grandchildren.
Freethinker65
(10,017 posts)Honeycombe8
(37,648 posts)OMG.
This can't happen.
bucolic_frolic
(43,146 posts)He lost. He cheated. Is the IC investigating ballot box and machine hacking and
fraud? I haven't heard of it.
Yet all we do is focus on this Russian connection which is significant to be sure, but
the rest of the plot goes on as planned.
William Seger
(10,778 posts)... is because they intend to extract more money from the public than they paid for it. Another Great Deal for Trump's chumps.
QC
(26,371 posts)Now that natural economic growth is probably finished for good, it's time for the looting to begin.
Virtual Burlesque
(132 posts)... how about publicizing more private wealth where it has accrued the thickest.
elmac
(4,642 posts)in our infrastructure as part of the tRump arms deal? Toll roads & bridges. A fascist wet dream.
Panich52
(5,829 posts)and the things they want to do that to always means mid- & lower -classes suffer while rich are unaffected.
Already been one story lately about how badly an idea it was to have even joint public-private mgmt of highways (NJ?)
George II
(67,782 posts)...and it has been a disaster.
truthisfreedom
(23,146 posts)Total corruption from the master of bankruptcy.
turbinetree
(24,695 posts)Beartracks
(12,809 posts)Just curious.
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progressoid
(49,988 posts)Kept telling everyone privatization was going to save the state MILLIONS!
Surprise, surprise, it's not.
Kablooie
(18,632 posts)Such a deal!
sinkingfeeling
(51,454 posts)roomtomove
(217 posts)eom
Tanuki
(14,918 posts)The creation of today's Russian oligarch class is his ideal and guiding example.
https://en.m.wikipedia.org/wiki/Privatization_in_Russia