No, We Don't Need Biden's $2.3 Trillion Infrastructure Plan

While President Joe Biden's administration doesn't seem to need an excuse to spend money, two recurring arguments for his gigantic $2.3 trillion infrastructure proposal are that our roads and bridges are "crumbling," and that modernization would generate economic growth and jobs—hence its name, the American Jobs Plan. But none of this clever marketing makes any of these claims true.

Let me start by pointing out that, to the extent that people think about roads and bridges when they hear the word "infrastructure," they should know that only $621 billion of...