AAAE's Barclay applauds President's call for infrastructure spending

"Greater funding for infrastructure is the right move and now is the right time," Barclay said, "for jobs, for the economy and for future generations of Americans."

Acknowledging concerns about federal deficits, Barclay emphasized the difference between federal spending on consumption and investment. "The public knows intuitively that it is wrong for one generation's members to pass along debt to future generations just because they find it convenient to consume more than they produce," Barclay said. "However, it would be equally irresponsible to pass along no debt and a crumbled infrastructure of roads, bridges, airports and air traffic control systems that would take decades for future generations to rebuild, no matter their resources.

"Investment in facilities that help generate wealth for society over a useful life sometimes measured in half-centuries is fundamentally different than deficit spending on goods and services that are consumed immediately," Barclay continued. "In fact, passing along a healthy infrastructure is an obligation of each generation, and properly designed infrastructure funding pays dividends as a foundation of economic activity over many years. Investment and consumption are different and we should recognize that fact in our debates about federal spending.

"AAAE calls on Congress to support the president's initiative for adding this critical investment spending," Barclay concluded.