OTTAWA — The federal government on Monday released funding numbers for projects in cities and municipalities to backup the Liberal Party’s campaign promise to make infrastructure a major component of its economic policy.
Infrastructure Canada plans to invest more than $120 billion in projects over the next 10 years, and is expected to carry over and expand the previous Conservative government’s New Building Canada Fund.
Federal Finance Minister Bill Morneau says he’s comfortable with the amount of infrastructure money the Liberal government has managed to get into the economy, despite a report from the Parliamentary Budget Officer that questions the speed of the federal government’s spending program.
Yesterday, two NTIA Recovery Act broadband grantees were among 11 local leaders from across the country honored at the White House as “Champions of Change.” Joe Freddoso, President and CEO of MCNC, and Donald Welch, President and CEO of Merit Network Inc, were recognized for using innovative techniques to develop valuable projects helping to improve America’s infrastructure. Merit Network and MCNC both received Recovery Act grants from NTIA for broadband infrastructure projects that are currently underway and connecting community anchor institutions in Michigan and North Carolina, including schools, libraries, and hospitals, to high-speed Internet. Under the leadership of Welch and Freddoso, Merit and MCNC have put hundreds of people to work and are laying the groundwork for sustainable economic growth and improved education, healthcare, and public safety.
Barry Ritholtz has another thought-provoking post over at TBP, 10 Things Making Me Nervous.
This one in particular surprised me:
10. Consensus that gridlock is good: I am becoming increasingly wary of the consensus belief that gridlock is such a wonderful thing. If most of the market and economic gains have been driven by Fed/Treasury action, what does gridlock say about future market action?
MONTREAL — Dozens of suspects accused of corruption at Quebec’s municipal and provincial levels have also been involved in national politics, giving more than $2 million in donations to federal parties, an investigation by The Canadian Press has revealed.