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by clairity 1980 days ago
sure, a bridge provides net economic benefit, so is not simply a depreciating asset. it's paying for broad benefits that accrue widely across society, rather than strictly to the government (externalized benefits). that doesn't happen with cars. in fact, cars produce large negative externalities. there's also fewer viable, affordable substitutes for bridges, whereas cars have multiple viable such alternatives, which makes debt often a bad choice for cars but not bridges.

but to the point of bonds, a lot of bond measures are not for net economic benefit, but rather political gain (school funding bonds, for example, tend to fail to improve educational outcomes despite the political rhetoric).