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A Slide in Capital Spending by States and Local Governments
Route Fifty: Capital spending by state and local governments around the U.S. has been on the decline, with jurisdictions pushing off infrastructure costs into future years.
That’s according to a report the credit ratings agency Moody’s Investors Service issued this week. The ratings agency looks at U.S. Bureau of Economic Analysis figures and says the information suggests an “ongoing buildup of deferred infrastructure maintenance.”
This comes as costs tied to areas like public employee pensions and education continue to put pressure on many state and local budgets.
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