One yardstick for measuring the White House's $3 trillion-over-10-years infrastructure plan and Congressional Democrats' $10tr counter-offer is that China issues about $500 billion in infrastructure debt each year.
https://twitter.com/JStein_WaPo/status/1376634031337570310
This year's limit of ¥3.65tr ($560bn) is actually a cut relative to last year, when infra spending was boosted post-Covid:
globaltimes.cn/page/202101/12…
globaltimes.cn/page/202101/12…
To be clear, those are figures for local government bonds in aggregate — but almost all of that goes on infrastructure, which receives non-local government financing in addition.
It sounds like the various U.S. infra plans will include some social-ish spending, too.
It sounds like the various U.S. infra plans will include some social-ish spending, too.
A trillion dollars buys a lot more infrastructure in China, as well.
In the U.S. it'll get you, what, a larger-than-usual crosswalk in Lower Manhattan?
In the U.S. it'll get you, what, a larger-than-usual crosswalk in Lower Manhattan?
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