Failing Dam Is a Symbol of U.S. Infrastructure
FEB 16, 2017 2:15 PM EST
By Barry Ritholtz
The sorry state of American infrastructure is once again our focus. This time the peg is the Oroville Dam in California. It is the U.S.’s tallest dam, and it is in trouble. An emergency spillway was damaged, causing evacuation of 188,000 Californians.
State and federal officials ignored the warnings of environmental groups who for more than a decade have been asking them to reinforce the dam’s spillway.
As regular readers know, failing infrastructure is a theme I’ve pounded on again, againand again.
How did we get to this sorry state? The short answer is partisan politics, informed by bad ideology and a focus on little more than the next election.
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