The catastrophic events around the California Oroville Dam in recent weeks underscores a far more urgent problem. The American Society of Civil Engineers has just released their quadrennial assessment of United States essential infrastructure–roads, clean water supplies, levees, ports, dams, bridges, electric grid. The report gives the nation a near-failing D+ grade. America is coming to resemble the economic infrastructure in the Soviet Union domestically at the collapse of communism during the late 1980’s. The recently-announced Donald Trump proposal to invest $1 trillion over ten years to address the problem, mainly building high-speed trains (to date the USA has not one) doesn’t even come close to the scope of the problem.
A Wall Street-driven agenda of globalization of US manufacturing and out-sourcing of production has left America a hollowed-out, crumbling Superpower. Since the 1980’s the United States has significantly under-invested in both new infrastructure and in renewing old. As US multinational corporations moved their factories overseas to cheap labor production in Mexico, then in Asia, especially China, and elsewhere, they found tax loopholes that allowed them to walk away from supporting the country that as recently as the 1960’s was the world industrial economic leading nation. Today US corporations hold $2.4 trillion in overseas profits that they keep abroad to avoid US taxes.
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