President Barack Obama (a file photo)
President Barack Obama (a file photo)Reuters

Delay in funding works on aging roads and bridges in the US would cost 1,12,000 projects of roads and bridges and about 7,00,000 jobs as well, said the President Barack Obama on 14 May. He called upon the Congress for swift approval of funds required for the works on roads and bridges.

The President was speaking at an event in Washington Irving Boat Club on the banks of Hudson River, where traffic crawls on the Tappan Zee Bridge as its capacity has been strained by the increased plying vehicles. He said that during the recession period, construction sector suffered a lot than any other sector in the country.

Obama said that new projects in public works would help to put many individuals back to the jobs and attract businesses. He reminded the fact that US built its world-class transportation system which helped it to become an economic superpower.

The President noted that while the State's spending in the US has declined, China and other developing nations have increased their federal spending. First class infrastructure invites first class jobs, Obama added.

Obama also announced several administrative steps for better federal clearances to transportation projects.

According to the White House, 65 percent of the US roads are rated in less than good condition and 25 percent of its bridges need significant repairs or can't handle the increased traffic loads.

Estimations say that the US transportation system will be required to carry 100 million more people and 14 billion extra tons of freight by 2050, double to the present level.

And to meet the increasing transportation needs by the next decade, US need to spend $3.6 trillion.

Presently, 45 percent of America's residents lack access to transit. In less than a decade, the US has fallen from 7th to 18th position on the quality of its roads, says the White House.