I’ve read that President Obama, in his State of the Union address Tuesday will talk about how to create a society that fosters economic growth and opportunity. Sounds fine. Of course, the deficit and debt hang over all this and he will not be seen as credible if he does not address that.
So…..let’s return to something we have been saying here for a long time.
It is a fact that resources available for needed airport infrastructure investment are in decline. The government grant program and passenger facility charge mechanism are stagnant or declining. Most airports can still access the capital markets but debt isn’t always the best way to go. This at a time when competitors around the world are investing heavily.
As we have written to the Simpson Bowles Commission, the Senate Gang of 6, the so-called Super Committee and others, getting Washington out of the business of restricting the ability of communities to invest in airports can not only provided needed resources it can also, by reducing reliance on Washington, help take pressure off the federal budget and deficit. A group of large airports made a similar argument in their letters to the Super Committee.
I once wrote a blog saying the president can appeal to those who want more investment in infrastructure, those who want to create more jobs and those who want to reduce federal spending and the role of Washington by supporting a move to allow localities to raise their own resources for airport infrastructure. To some, this may not sound like a good State of the Union topic. To me, it seems like a natural.