Some of you may know the TPP is the Trans-Pacific Partnership. Some of you may not. It is a giant trade deal with the Asia-Pacific region, excluding China. Charles Rangel recently wrote in the Washington Examiner about the deal without explicitly endorsing or rejecting it. If you ask me, on balance I am for the expansion of trading agreements like this one. I believe the free movement of people and goods helps the United States economically, culturally, and politically.
But in the United States, despite becoming more and more open to global competition, our public investments in things like roads and schools is lower today than it ever has been in the past 50 years, about 10 percent of what we invested in the 1960s. Earlier this month, we finally were able to pass a very modest highway bill through the House. But what we need is a transformative infrastructure bill, not a modest one that merely preserves the status quo.
Even if you do not believe in transformative projects, the idea that we are starving our infrastructure is depressing.