Bob the Builder may not be working on many new condo projects these days, but he is building roads. Via Reuters: "U.S. construction spending fell 0.9 percent in May to the lowest rate in more than five years, with the economic stimulus plan passed in February providing little relief in public construction, according to Commerce Department data released on Wednesday." Notably, the newswire points out that despite the $787 billion stimulus package, which was supposed to spur public works projects, public construction dropped 0.6 percent. Related: This past Monday, Smart Growth America, a city planning coalition, released a report detailing how well each state is handling its transportation stimulus money. According to Reuters, the group is critical that the bulk of federal money is going towards highway repairs and building new roads, while about 6 percent of the money goes towards public transit: The group found that "62.9 percent of funding had gone to highway repairs, and 31.3 percent, or $6.69 billion, was dedicated to building new roads." "Given our huge road and bridge repair backlog and inadequate public transportation system, $6.6 billion for new highway capacity just doesn't make sense,' said the coalition's president, Geoff Anderson, in a statement. 'It's like adding a new wing to your house when the roof is falling in." [Reuters/Reuters]
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