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Analysis

Public investment after Eisenhower

by OMFIF Analysis

Wed 3 May 2017

Public investment after Eisenhower Enlarge Chart loading Image

When it comes to infrastructure investment, President Donald Trump would do well to follow the example of Dwight Eisenhower. In the 1950s he championed the building of the 41,000-mile interstate highway system. Much credit for this achievement lies with Arthur Burns, Eisenhower’s chief economic adviser between 1953-56 who went on to chair the Federal Reserve in the 1970s. His advice led to one of the best-ever periods for US public investment. Gross public investment peaked at around 7% per annum during the Eisenhower administration, a level not seen since.