
Federal Budget & Spending |
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Subsides For Ole' Man River |
Barges are the most subsidized form of transport in the United States. And the U.S. Army Corps of Engineers has just spent the past six years on a $49 million study on how much will need to be spent just on the barge traffic needs of the upper Mississippi and Illinois rivers.
Critics propose privatizing the nation's lock system by auctioning them off to the highest bidder. The winner could then charge whatever tolls the traffic would bear. But a study by a University of Illinois graduate student concluded the purchase price based on toll revenue would be less than what the Army spends annually to maintain them. Source: Bruce Upbin, "A River of Subsidies," Forbes, March 23, 1998. |
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