Get Adobe Flash Player to see this content.

About This Video

Stimulus 120-Day Report Card

Title:

Stimulus 120-Day Report Card

Published: Mon, 29 Jun 2009

Description: Smart Growth America President Geoff Anderson on how the president's spending plan is measuring up.

-

Automatically Generated Transcript (may not be 100% accurate)

" All right well it has been 120 days for months insisting his plan became law solved. Housing going we just talk about transportation admit Jeff Anderson the president of smart growth America. And he joins us now Jeff here briefly conducted the study of spending on transportation projects. What else have you found how that money being spent. Well first thanks for having me on the show it's great to be here. We found. What. Well first -- may provide little context I think so much of the discussion right now has been about is the money getting out there isn't being spent -- you know with the money getting into the economy that's certainly important. But were interested also in what are we spending the money on is this going to create the kinds of -- investments that are that are helpful firm -- our long term so. Are we creating the jobs are we creating them quickly. Are we addressing the enormous infrastructure backlog and our transportation system but roads and public transportation that we have that that mounts up into the trillions of dollars of backlog. Are we creating the kinds of transportation choices that are really going to be needed in the 21 century transportation system the kind. They're going to help us meet didn't help us meet the needs of our aging demographics where we'll what we'll have elderly people at different transportation needs. The kinds of help us with that kind of energy security that the president was just discussing. The kinds that create better opportunity for for low income workers have been hit hardest by the recession and the kinds -- Businesses greater access to employment -- metropolitan areas. We looked nationally and we found as you said that 63% of the money had been spent time on road maintenance and studies show that that basically does get into the economy in general more quickly tends to create more jobs -- dollar per dollar than the new capacity well. And that it's a disturbing trend where were we have these multi trillion dollar backlogs and we're putting money toward spending on. New new additions to that system and we can't even afford the system we have so yeah I sort of like getting away here house when they when the roof is falling in what you know -- it and makes you think about all."

" Ohio and an uptick in Ohio to find state that they put out a list of some of their their spending plans and went through it couple months ago. And I and I noticed all these counties in Ohio had the same line item across it it was like transportation garage. We've office and -- a lot line look at it like twenty counties it is Adam thought the same thing few million bucks. What not a whole of the transportation. Directors and one of the county that promise that would use his name because you these little bit reluctant to talk. And I said why bill nieces and why I think what is that is that school bus garage. I said do you need these we're getting money as a white buildings that because we're going to get paid back for. Because we were told by the state that leaders spend the money or we lose it. Have you found a safe and it's like -- you wonder they actually need some of -- stuff who's building it because it paid for."

" By I think -- speed in the imperatives for speed it's certainly been and effect but that's week as we heard earlier states and and metropolitan planning organizations. -- actually committed more money than they had to by this point in time they actually had a year deadline for the second half of the money. And they've gone ahead and commit at a lot more of the money. So I think there really was time for the kinds of projects that -- really added value and create more balance in our transportation system. So it you know there has been an imperative for speed but it certainly hasn't meant that the best projects have been funded. Now that as I as I said the backlog that we have and our transportation system in terms of the maintenance and repair. Spending a dollar today you can save anywhere from six to fourteen dollars if we spend it tomorrow based on doing timely maintenance and repair. It creates more jobs on average 11% more jobs than the new construction does. And these projects are generally ready to go it's it's simple things like painting bridges restructuring roadways pre paving -- and and those are the kinds of projects that. Even if they are ready in the Q you can get him going pretty fast. And they're the kind of thing is jobs and who who's. Well I'd better -- Marlboro. Yeah I think there are and ended there is a difference in the kinds of five road crews in the kinds of contractors that are able to do those different jobs obviously smaller jobs. There are less complex are available to a wider sector of the economy. And provide more opportunities to get more of them going more quickly if you have if you have a multi phase job that's very complex it limits the number of groups that can do it. You'll have to look out of state Warren and and thus should seek a wider field of skills are Jeff Anderson smart growth America Jeff thank you very much for coming on Fox News."

More Videos From FOX Business
Reinstating the Uptick Rule?

Reinstating the Uptick Rule?

Will Schapiro reinstate the uptick rule?

Video|Thu, 26 Mar 2009|More from Money for Breakfast
|stock's pricefound at1:13

seller executed order -- after a small increase in the stock's price that's that's the uptick part of the uptick rule so that tech might be twelve and half cents up or a quarter. But in 2007 the SEC abolished the uptick rule saying it didn't work anymore with trading moving to decimals rating is now in penny increments but since then the markets have been extremely volatile especially financial stocks and some investors and some lawmakers. In part blame these short sellers and they have been demanding that the SEC restore. The uptick rule now we have received this advance copy of Mary -- is testimony today before the Senate banking committee and that she will say quote there are practices that are contrary to fair and orderly markets abusive short selling for example would fall into that category. Early next month the commission will consider proposals to reinstate the uptick rule are something much like it and that meeting will be on April -- Senate sources tell us that senators will pressure
Reversing the Uptick Rule?

Reversing the Uptick Rule?

Peter Barnes reports on the uptick rule.

Video|Fri, 13 Mar 2009|More from Money for Breakfast
|stock pricefound at1:19

the process and attack a stock to drive its price down. The FCC required that a short seller can only acts acute his order after a small increase in the stock price or an uptick of say twelve and a half cents or quarter. But as you mentioned the 2007 as the exchanges went to decimal trading with prices moving up and down by as little as just a penny the FCC abolish the rule saying it was outdated. But since then the markets have tanks. Especially financial stocks and some lawmakers and investors
SEC to Vote on The Uptick Rule

SEC to Vote on The Uptick Rule

Overstock.com CEO on the uptick rule.

Video|Wed, 8 Apr 2009|More from FOX Business Morning
|Patrick Byrnefound at0:29

previous price. -- ruling could be made as early as today and Patrick Byrne is the CEO of overstock dot Connie joins me right now. That takes you I have been talking about this for what