It could pay off, but only if voters actually see that roads and bridges are being built and improved
Peggy Noonan in the Wall Street Journal –
The Covid relief bill President Biden signed March 11 weighed in at almost $2 trillion. The infrastructure bill also comes in at almost $2 trillion, and in a few weeks there will be a companion bill of the same magnitude.
It’s all big and bold, and you can see it making a million possible messes, from the usual (How much ideological mischief is hidden in there?) to the existential (Don’t debt and deficits matter anymore? Isn’t inflation something to worry about?). But yes, the White House is in a New Deal state of mind, they’re rocking the Casbah, they feel they’ve got the wind at their back, and at this point they’re more or less right.
But this is a whole lot of spending and taxing in the first hundred days. It’s a big political gamble.