Nucor calls for more federal dollars for infrastructure work
June 24, 2010 from American Institute of Steel Construction
Dan DiMicco, CEO and president of Nucor Corp., called on the U.S. federal government to release more money from its economic stimulus package for infrastructure building and on state and local governments to raise spending on roads and public buildings such as hospitals, Reuters reported today.
According to the Reuters story, DiMicco, who was attending AMM’s Steel Success Conference in New York City, noted that while steel demand is picking up compared to a year ago, there’s still historically high unemployment rates throughout the U.S. economy. “We are still in the worst recession since the great depression in the 1930s. There is still a lot of work to do.”
AMM reported that DiMicco and other top Nucor officials also called on the U.S. government to take more action to “stimulate U.S. manufacturing and address trade issue, especially China.” The AMM report quoted DiMicco as saying: “They [political leaders in Washington] all know what needs to be done. But they haven’t done [crap]. We’ve got to start doing something. We have to get back to making things in this country. We need to add jobs in this country. This [unemployment] problem is larger than everyone knows. The things that need to be done to get us there are not being done.” According to DiMicco, the ‘real’ unemployment rate, including those who are under-employed or who have stopped looking for jobs entirely, is around 17 percent, or roughly double the official government statistics. A full report on the conference is available from AMM by subscription only (www.amm.com).
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