Stock Mkt: Obama Shifts to Urge Private Investment in Roads, Bridges
For years people have been complaining about America's crumbling transporttion infrastructure-- and rightfully slow. And Congress, as usual, has refused to act. So...
Stymied by Congress in passing a multiyear solution for transportation funding, President Barack Obama is looking to private-sector companies to help fix roads. Speaking beside a project to repair a closed interstate highway bridge in Wilmington, Delaware, Obama called for making it easier for states and local governments to access private capital for roads, bridges and other infrastructure.
So far Congress has refused to act, said Obama, who criticized lawmakers for failing to fully fund federal infrastructure projects through the Highway Trust Fund . Im going to do whatever I can to create jobs rebuilding American on my own.
The focus on private money for road projects marks a shift for the administration, which had previously resisted efforts to seek commercial resources for highways and other pieces of the countrys transportation system.
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Investing in infrastructure stocks may be a good idea-- but some have alredy goneup a lot and may be due for a correction:
(I've owned MIC for a while-- wanted to buy more but IMO its too risky after such a big run-up-- even with a 6.2% dividend).