CBO: Feds spent $96B on infrastructure in 2014
“Nominal public spending on that infrastructure increased by 44 percent between 2003 and 2014, but because prices of materials and other inputs rose more quickly than nominal spending, real (inflation-adjusted) public purchases decreased, falling by 9 percent from their peak in 2003 to their level in 2014,” the agency wrote.
“Although all levels of government have spent less, in real terms, on transportation and water infrastructure in recent years than in the past, the greatest reduction has occurred at the federal level,” the agency said. “Adjusted for inflation, federal purchases have fallen by about 19 percent since 2003, while purchases by states and localities have fallen by about 5 percent. The significant difference between those declines reflects the facts that a much larger por
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