The infrastructure bill will alleviate economic problems, just wait

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BALTIMORE (AP) – President Joe Biden announced his $ 1 trillion infrastructure plan on Wednesday as a solution to inflation and the nation’s supply chain problems – if only Americans would have the patience to wait for construction to begin.

The president toured the Port of Baltimore at the start of what is likely to be a national tour to present his signature legislation that cleared in Congress last week and that he intends to sign on Monday. He said the spending would improve the transportation of products and supplies from abroad and within the US to help lower prices, reduce shortages and add union jobs.

That message becomes even more critical as the government reported on Wednesday that consumer prices in October climbed 6.2% from last year. Inflation intensified rather than faded as the economy reopened after the coronavirus pandemic, creating a major challenge for Biden whose administration has repeatedly said price increases are temporary. In statements at the port, he acknowledged that consumer prices remained “too high.”

“Everything from a gallon of gas to a loaf of bread costs more,” he said. “We still face challenges and we have to face them … we have to face them.”

Higher prices ate up wages and became public sentiment in the economy against Biden in the polls. One of the barriers to reducing inflation is the backlog of ports with ships waiting to land at major transit hubs, causing shortages and leaving some store shelves to run out before holiday shopping. season.

“A lot of people remain unsure about the economy and we all know why,” Biden said.

He offered his infrastructure plan as a solution, though it would take time to show up. Better infrastructure – roads, bridges, ports or whatever – will provide more capacity and stability for the supply chain. There will be more capacity to remove ships and move goods, which in turn will reduce pressure and price shortages.

Biden said infrastructure spending will create jobs that pay $ 45 per hour, nearly 50% above the current national average. This will create a lot of jobs to fix old pipes, bridges and roads, and strengthen clean energy and cybersecurity. And most will not require college degrees.

“It’s a once in a generation investment,” he said.

The president pointed to the port of Baltimore as a blueprint on how to reduce shipping bottlenecks that have hampered economic recovery. The facility adds container cranes as well as a 50-foot berth where ships can be unloaded. The port of Baltimore is also benefiting from grants to upgrade the Howard Street Tunnel, a brick-lined underpass for trains that opened in 1895. The tunnel will be expanded so that shipping containers can be double-stacked in metals, which facilitates the release of goods. of the harbor.

The president, who consulted with CEOs of Walmart, Target, FedEx and UPS on Tuesday, stressed that these investments are part of a national effort to alleviate supply chain bottlenecks in ways that will help the wider growth.

His administration also announced new investments to reduce congestion at the Port of Savannah in Georgia, nearly a month after the administration helped the deal broker for the Port of Los Angeles to operate without interruption.

The president is trying to explain that port congestion shows how strong the economy is recovering from the pandemic. A forecast by the National Retail Federation suggests a record level of imports this year.

The inflation phenomenon is also global, with Germany and China recently reporting high levels.

The president made his case Wednesday in a city with nearly 600,000 people supporting him. Nearly 90% of voters in Baltimore supported Biden in last year’s election. The president also stopped by the city for a CNN town hall on Oct. 21.

Baltimore embraces the complexities of an increasingly diverse America during a time of hot national politics.

Many Americans have seen a TV version of poverty, crime, political corruption and the city’s vacant row house on shows like HBO’s “The Wire”. The turmoil following Freddie Gray’s death in 2015 from injuries to a police van has helped advance a national movement for respect for the rights and lives of Black Americans.

But Baltimore also contains deep pockets of wealth and prosperity in what is a microcosm of broader inequality that the country faces. There are Guilford neighborhood mansions, select private schools, renowned restaurants and the prestige of Johns Hopkins University.

As president, Donald Trump has often slammed most of the Black city on Twitter, calling it the “WORST COUNTRY.” But while Trump despises Baltimore, Biden sees a trial case for his agenda that goes beyond the ports. Her child tax credits send thousands of dollars to families in a city with a child poverty rate in the north of 30%. The historic Penn Station has begun to be renovated and modernized, possibly improving rail transit in the Northeast.

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