over the long-term, better roads, railways, ports, electrical grids, broadband. they invite businesses to operate more efficiently. they save them money, they create jobs. if you re a regular viewer of this show, you probably saw me go underground in new york city last summer to get a closeup look at one of the biggest public works projects in american history. i m talking about manhattan s second avenue subway line. completing it will cost around $22 billion or $24 billion. what s behind the mammoth tab? here s what i found out when i traveled ten stories underground. backhoe excavators that can cost $700,000 a piece. man lifts that sell up for to $500,000. see that hydraulic drill? they can go for $800,000 a pop. these are the machines of modern day engineering. new york has them working on the second avenue subway line. subways are expensive. way back when, the first subway in manhattan was 21 miles and
Transcripts for CNN Your Money 20130323 17:42:15
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nevada and florida the unemployment rate is higher than the national average. in nevada and colorado, the unemployment rate is still above what it was when president obama stepped into the white house. but in the rest of the battleground states it s pretty interesting. the jobs markets are improving. they have been improving since when the president became went into office. still improving, iowa, virginia, nevada, all have pretty low unemployment levels. 5 pst in iowa, new hampshire 5%, virginia 5.6% and in ohio with 18 electoral votes, much more than iowa and virginia combined, significant drop in the unemployment rate 7.4% over the past year. 48th in the nation to much higher than that. it s a very interesting story, ohio, big manufacturing auto, this is one of those places where mitt romney had said don t have that auto bail jautout. nobody wins out ohio and mitt romney will have an uphill batter there. this is showing you population centers. some of these areas wher
of data. you like to see the trend for markets and economics. after three months of 200,000 jobs created or more, people are saying, look, it s healing. things are going to get better. the rearview mirror is a slow jobs recovery. then you have a stall here. when your biggest customer has countries in it that are in recession, that doesn t mean if you re a big company in this country you wan to be adding a lot of workers. that could be a big bart of it. i want to look at the private sector of public sector jobs. 82,000 private sector jobs created. 13,000 public job sectors lost. there s the tug of war for the economy. the private sector trying to create jobs. the public sector losing jobs. you ll hear people in the gop say, look, this shows the president s policies aren t working. the problem is what is the answer to that? if the president s policies aren t working, how do those cutting spending fit into the equation? cutting spending will mean more public sector job loss,
from, same from politicians for manufacturing issues. there s always been these geographic concerns that trumped party affiliation. separately, there were also areas of consensus that no matter where you were from, no matter what your ideology, no matter what your political party, there were things everyone could agree were good ideas, things that passed congress by overwhelming margins. let take, for example, highways, the highway system that tens of millions of americans travel on every single day of the week, highways were something that had to be voted into existence. it s the result of the federal aid highway act of 1956, which was signed into law from president dwight eisenhower, a republican president, along with a democratic-controlled house and senate, came together and said hey, building highways is a great idea for the country, let s do it. the interstate highway system was one of the largest public works projects in american history. it was signed into law by a republican p
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