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Please note: The Frank Talk articles listed below contain historical material. The data provided was current at the time of publication. For current information regarding any of the funds mentioned in these presentations, please visit the appropriate fund performance page.

Obama and Infrastructure

December 8, 2008

Obama and Infrastructure 120808As he gets closer to taking over the Oval Office, President-elect Obama is talking more and more about his desire to spend big on domestic infrastructure improvements as a key part of his economic stimulus plan.

In his latest weekend radio address and on “Meet The Press”, Mr. Obama said “we will create millions of jobs by making the single largest new investment in our national infrastructure since the creation of the federal highway system in the 1950s.”

He also made clear that he wants action now: “We’ll set a simple rule—use it or lose it. If a state doesn’t act quickly to invest in roads and bridges in their communities, they’ll lose the money.”

Stock markets jumped on Mr. Obama’s emphasis on infrastructure, and that makes some sense given that a major infrastructure program signals his focus on reviving the economy and because infrastructure reaches across many sectors, among them steel and cement companies, engineering and construction firms, heavy equipment makers and those who produce industrial commodities like copper and oil.

State highway officials say they have $64 billion worth of road and bridge projects that could be under way within six months. These projects could create nearly 2 million jobs.

The effort wouldn’t have to end there—tens of billions more could be allocated for projects addressing repairs and upgrades in water, mass transit, airport, school and other infrastructure.

We’ve long believed in the global infrastructure build-out in large part because it is driven by government policies for growth. In this case, of course, it’s also a win-win economic stimulus—high-paying jobs to kick up the economy and many long-deferred projects finally get done.

We’ve made a map of some of the biggest infrastructure needs around the country. Click on the image below to see that map.

Infrastructure Map Banner 120808

All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.

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