New York City will speed up spending on more than $1 billion of infrastructure projects to take advantage of record-low interest rates, Mayor Michael Bloomberg told a news conference on Wednesday.
The road, bridge, school building and other projects are part of the city’s long-term capital plan after fiscal 2014, and some of them have already begun. But now spending on them will be accelerated to within the next two years.
The projects could create about 8,000 jobs, mostly in construction, and save more than $200 million in debt service because of historically low interest rates, New York City Comptroller John Liu said at the press conference.
When governments accelerate borrowing and spending on infrastructure maintenance, improvement, and construction, they create motherfucken jobbes, improve physical infrastructure, and save fucken money in the long run. Bloomberg understands this very clearly. So who benefits from governmental fiscal austerity? Greedy richasse motherfuckers sitting on huge piles of fucken cash like fuckeface Romney, thatte’s who.