I thank my friend from New York. It's a great pleasure to talk about the subject that's on every American's mind, and that is, how do we rebuild America, how do we put Americans back to work, and how do we recreate the kind of America that…
I thank my friend from New York.
It's a great pleasure to talk about the subject that's on every American's mind, and that is, how do we rebuild America, how do we put Americans back to work, and how do we recreate the kind of America that we all once admired and will admire again?
You've talked about a very incredibly important element of the job creation agenda, and that is research and development. It's clear that the jobs that we look forward to in the next generation, and the generation after that, are jobs that probably don't exist today. We're going to find them. We're going to discover them. And if we don't do it, they will be invented somewhere else, and that's why the initiatives that you have been talking about in the energy field are so critical.
But I would like to talk today about a job opportunity that exists right now. The President referenced this in his speech last Thursday night, and I thought he was incredibly powerful and articulate in doing that. Because what he did was connect the dots. And when he talks about infrastructure and jobs, that's something that most Americans can understand.
When we built the interstate highway system, that created an awful lot of jobs, and it also established an infrastructure that has enhanced our commercial activity throughout this country for more than a half a century. And now today we have a gap in that interstate highway system, and it happens to be in my community.
Just last Friday, the bridge called the Sherman Minton Bridge which spans the Ohio River between Louisville, Kentucky, and New Albany, Indiana, was shut down because of structural deficiencies. So when the President speaks of infrastructure deterioration throughout the country and the thousands and thousands of bridges that need to be repaired, he didn't know at that time, the next day, one would become more than an abstract theory; it would become a reality.
We saw this, unfortunately, in Minnesota. We hopefully have averted a similar disaster in my community. But in the meantime, this bridge which was built 50 years ago which was examined just 2 years ago and judged to be structurally fine, because of advances in analysis of certain steel products, they did a different kind of analysis this year and found cracks in the support system and had to shut the bridge down.
What has this done? I-64, which begins in Virginia and runs through Lexington, Kentucky, and Louisville and on to St. Louis, it's a major, major east-west artery of this country, and for this country's both civilian and commercial traffic. About 90,000 vehicles every day go across this bridge. Most of them in the morning come into Louisville; most of them in the afternoon go out of Louisville into Indiana.
Right now, all of that traffic is being diverted onto I-65. We have a great, centrally located community in Louisville. Three interstates converge there--I-71, I-65 and I-64--and they all converge in a pretty similar spot except now all that traffic that can no longer go on I-64 across the Sherman-Minton has to go across the I-65 bridge. That bridge is already taxed to its extreme. It is operating at 25 percent more than it was envisioned to hold. Now 90,000 more vehicles are going to be coming across that bridge every day.
So we don't know yet what's going to transpire with that Sherman- Minton bridge, whether it can be repaired, whether it is going to have to be condemned and rebuilt; but we do know if we had been making the kinds of investments in keeping our infrastructure current and modern and in making those investments over time, we would have had many, many thousands more people at work, and we probably would have avoided this situation.
So now this is both a very serious commercial and personal inconvenience, and I don't want to go quite so far as saying it's a disaster, but it is a very serious problem in my community. But it also could be something where we put many Americans back to work as we either fix it or replace it.
Again, we are at a time now where we have example after example, thousands of these around the country. We are at a juncture where we can borrow money to do this at historically low levels, and we can put tens of thousands of Americans back to work.
So as a theory as espoused in the President's speech Thursday night has become the reality in my community, it can become a reality of rebuilding America for all of us.