US economy pained by poor transportation: Study
WASHINGTON -- The U.S. transportation system is failing to keep pace with the demands of a 21st-century economy, and a piecemeal approach to improving infrastructure no longer works, concludes a study by the Americans for Transportation Mobility Coalition and the U.S. Chamber of Commerce. "If the United States declines to invest in transportation infrastructure and ignores the transportation needs of key industry sectors, our economy will become less productive and less competitive," warns ATM Executive Director Janet F. Kavinoky. "Without an adequate transportation system, the nation's economic growth is at risk." Meanwhile, global competitors like China have rapidly increased investment in transportation infrastructure. "The margin of the U.S. competitive advantage is shrinking," notes the study, which is titled "The Transportation Challenge: Moving the U.S. Economy." The authors attribute the poor performance of the U.S. transportation system to the growing imbalance between supply and demand and the increasing age of the nation's infrastructure. Given population growth, shifting demographics and steady economic growth, a high-performance transportation system is a necessity. The U.S. population is projected to grow from 300 million today to 380 million people in 2035, while the economy is likely to double over the next 30 years, as is demand for freight transportation. The report urges policymakers to become much more strategic in planning and investing in the U.S. transportation system. "If we do not, our transportation system will become a competitive disadvantage for U.S. industries, and it will be harder to sustain the growth of our regions and the national economy," the report says.