Years before President Bill

Clinton came to Wash- ington with his campaign pledge to spend an addi- tional $20 billion annu-ally on America's infra-

structure "to develop the world's best com-
munication, transportation, and environ-
mental systems," economists and others
were talking about the need to spend more
on public works. Their debate has been al-
most entirely about one question: How
much more? Usually overlooked in these
discussions is the real infrastructure di-
lemma of...