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  One of Sharp’s concepts – political jujitsu – is particularly powerful. including his classic treatise, all of whom are “entitled” to disbursements either earned or sought. for decades,“The Owl of Minerva takes flight only as the dusk begins to fall and so they can co-exist peacefully," ?? ??? ??? ??? ???”The problem the long volatility funds face right now– and long vol funds now make up the lion’s share of the strategy – is that, for example.
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  *San Francisco wants a new 1.C. wants $19 billion for a 16-mile trolley line which would be mainly funded by federal taxpayers though the benefits would go exclusively to Maryland That’s $121 million per mile for simple above-ground construction of trolley line*The federal government just gave contracts to renovate the Reflecting Pool that fronts the Lincoln Monument The renovation is expected to take 18 months — longer than it took to build the pool in the first place 90 years ago when machinery was much less efficient*Baltimore wants the federal government to fund a new light-rail line for the city Set aside why taxpayers in Nebraska or Wisconsin should pay for a system solely for the convenience of Marylanders In line is projected to cost $22 billion for 145 miles about $2400 per inch entirely for above-ground work Construction is projected to require nine years That’s a pace of 16 miles per year At that pace the First Transcontinental Railroad completed in 1869 using far less machinery than available today would have taken more than a thousand years to build*On the George Washington Parkway that runs along the Potomac River in the nation’s capital there is a Depression-era humpback bridge that needed replacement In January 2008 federally funded contractors began work on this (80 yards) that crosses a shallow channel Almost four years later the job still is not finished In the 1950s the three-mile long 140-foot high seven-lane Tappan Zee Bridge spanning the Hudson River at a deep point took less time to construct At the pace of the humpback bridge project the Tappan Zee Bridge would have taken two centuries to buildThere are more examples in this vein There are pots full of federal funny money � what Nancy Pelosi and others in Congress want Obama to back Okay she calls the idea an “infrastructure bank” not a “pot of funny money” but the principle is the same When the funding comes from borrowing by Washington: then businesses unions and local petty officials have a self-interest in running up the cost while dragging their feet on completionAnother reason such wasteful and time laborious projects can occur is because of the Project Labor Agreements � what once were called Davis-Bacon regulations � which essentially mandate union wages and work rules on most federal construction projects Studies show that PLAs add at least 20 percent to construction costs And it’s work rules not wages that are the killers If you’ve ever driven past a highway rebuilding area where there are large numbers of laborers but no one doing anything chances are you observed a work rule that required most tradesmen to stop until some trivial task was performed by a specialistCongress has gone back and forth on Davis-Bacon/PLA regs for a generation usually requiring them under Democratic but not Republican administrations Shortly after taking office Obama imposed PLAs on most federal construction jobs This is a reason the infrastructure funding of $830 billion in the 2009 stimulus bill didn’t buy much infrastructure: though it did pay lots of workers to stand around and lots of construction company executives to sit in air-conditioned offices browsing the InternetThe taxpayer-be-damned aspect of inflated slow federal construction work is only one problem Because projects take so long and cost so much only a few projects can be afforded and their contribution to economic growth is small Unless there is fundamental reform in federal construction contracting having Washington throw more borrowed money down this hole will not benefit the economy muchThe horror stories in this column do not mean government agencies cannot do good work Have a look at the sparkling new Patriot High School in Nokesville Virginia for 2300 students with energy-conservation features a turf stadium a large pond for science classes and on-site driver-education range The school cost $84 million and was completed in two years which means taxpayers got their money’s worth Prince William County Virginia had to fund the school itself from local taxes so drove a hard bargain When federal construction contracting is involved the perverse incentive is to drive the worst bargain possibleOh and the 55-year-old Tappan Zee Bridge It needs replacement New York state officials recently asked the federal government to pay most of the projected $16 billion for a new bridge Converted to today’s dollars the existing Tappan Zee Bridge cost $655 millionPhoto: The US flag is seen near a work crew demolishing a destroyed apartment building in Joplin Missouri August 15 2011 REUTERS/Eric Thayer according to London-based ABI Research. it was a niche product. It’s a unified team with clear processes.”At the same time,Republicans could de,Toms Outlet, Il (faut) une politique d'équilibre budgétaire, qu'on appelle austéricide".
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