In 1956, the Federal-Aid Highway Act of 1956 Created the Interstate

question 90

Essay

In 1956, the Federal-Aid Highway Act of 1956 created the interstate highway system, at a cost of about $27 billion: $25 billion from the federal government and the remaining $2 billion from states. The full federal share was to be financed by issuing 30-year bonds. But this type of financing was not without its detractors, in particular Senator Harry Flood Byrd of Virginia, who biographer Alden Hatch described as having "an almost pathological abhorrence for borrowing that went beyond reason to the realm of deep emotion." (Quote from:
http://www.fhwa.dot.gov/publications/research/.../pavements/.../publicroads/96summer/p96su10.cfm.)
You have been given the unenviable task of convincing Senator Byrd that borrowing to build freeways is good and fair. Use the language of generational accounting to make your argument.

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