Enjoyed the IAMA from @RBReich, frm. Secretary of Labor on @reddit today

Question (mickhugh):

Why do you think there's been such little enthusiasm from those in power for a New public works project (like rebuilding bridges, roads, highways, etc) when costs (materials) are so low and the employment among young people is so desperately needed?

Answer (robertbreich):

The Works Progress Administration (WPA) and the Civilian Conservation Corps (CCC) were successful New Deal measures for putting lots of people to work rebuilding the nation's infrastructure, building public parks, and improving public spaces. I think it's nuts not to try to repeat the success when so many people are out of work -- and the portion of them out of work for a year or more is the highest it's been since the Great Depression. Also, it's now cheap for the Treasury to borrow money to finance this (the yield on the 10-year Treasury is still around 2 percent) -- far cheaper than paying unemployment insurance and all the other social costs of unemployment, far cheaper than rebuilding our infrastructure when borrowing costs are higher, far cheaper than trying to deal with crumbling highways, unsafe bridges, inadequate public transportation, outmoded ports, etc.

I've long wondered this, too....