U.S. infrastructure headed toward $1.6 trillion deficit in 2020, ASCE says

damaged road

The American Society of Civil Engineers (ASCE) warns that United States infrastructure will fall $1.6 trillion short of what’s needed to maintain existing facilities through 2020, according to a Bloomberg report.

“We’re investing in infrastructure, we’re just not investing enough,” Greg DiLoreto, president of the ASCE, told Bloomberg.

The ASCE says 80 percent more–$3.6 trillion–funding is needed just to put the nation’s facilities in a state of good repair before 2020.

The ASCE adds that motorists waste about $101 billion a year due to traffic congestion, and the organization recommends spending $91 billion annually on urban highways in the United States. However, the ASCE says that amount would need to increase by 87 percent to $170 billion to significantly improve infrastructure.

The ASCE projects that, unless investment changes, the United States infrastructure will cause a loss of 3.5 million jobs and $3.1 trillion in gross domestic product by 2020. The ASCE suggests spending an extra $157 billion a year to prevent such losses.

The American Society of Civil Engineers (ASCE) warns that United States infrastructure will fall $1.6 trillion short of what’s needed to maintain existing facilities through 2020, according to a Bloomberg report.

“We’re investing in infrastructure, we’re just not investing enough,” Greg DiLoreto, president of the ASCE, told Bloomberg.

The ASCE says 80 percent more–$3.6 trillion–funding is needed just to put the nation’s facilities in a state of good repair before 2020.

The ASCE adds that motorists waste about $101 billion a year due to traffic congestion, and the organization recommends spending $91 billion annually on urban highways in the United States. However, the ASCE says that amount would need to increase by 87 percent to $170 billion to significantly improve infrastructure.

The ASCE projects that, unless investment changes, the United States infrastructure will cause a loss of 3.5 million jobs and $3.1 trillion in gross domestic product by 2020. The ASCE suggests spending an extra $157 billion a year to prevent such losses.

Partner Insights
Information to advance your business from industry suppliers
8 Crucial Elements of a Tire Safety Program
Presented by Michelin North America
How High Fuel Prices hurt Your Business
Presented by EquipmentWatch
Selecting the Correct Construction Tire Solution
Presented by Michelin North America

Other ASCE plans include spending $877 billion on surface transport through 2020.