The US used to be at the top of global rankings for roads, bridges, rail and more. Now it's not even in the top 20.
American roads, bridges, tunnels, airports, and more have been crumbling for decades, and time may be running out to catch up to the rest of the world.
In his annual letter, JPMorgan CEO Jamie Dimon chided US officials for allowing the state of the country's roads, bridges, airports, and more to fall behind much of the rest of the developed world. Later in the letter the CEO urged American leaders to look outside of their own borders, specifically to Canada and Germany, for examples of how to return the US to its former glory.
Time and money tend to be the two biggest pain points for US infrastructure projects. Take New York, for example, which is working on a 3.5 mile tunnel extension to bring commuter trains from its eastern suburbs on Long Island into Manhattan's Grand Central Terminal. The latest estimates place the uncompleted project's cost at $12 billion, or $3.5 billion per new mile of tracks, not to mention the more than 10-year delay.
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