Under-investing in infrastructure carries costs for households, businesses, and the government by increasing maintenance, wasting time, and allocating resources inefficiently. These costs reduce efficiency and impede economic growth.
Road congestion has worsened as the expansion of the highway system has failed to keep pace with usage. As a result, the amount of time wasted has increased dramatically over the past few decades rising from 14 hours per driver in 1982 to 34 hours in 2009. The cost of these delays has increased from $24 billion in 1982 to $115 billion in 2009 dollars.
Bottlenecks and traffic delays in our ground and air transportation systems are paralleled by inefficiencies across many modes of infrastructure. According to various estimates from government institutions and non-profits organizations, the efficiency lost because of poor infrastructure is probably in excess of $195 billion per year.