This paper explores the conceptual feasibility of structuring project finance-type arrangements purely within the U.S. public and institutional sectors.

The advantages would be that the argument that fees paid by U.S. users were enriching foreign investors would be negated. If social security trust funds were employed to supply long-term debt, tolls paid by U.S. motorists would find their way back into their own retirement funds. In a similar way, public and institutional pension funds would also benefit from investing in U.S. infrastructure and supporting U.S. employment. Such a financing arrangement would also serve as a surrogate for investing a portion of social security funds in the stock market but arguably with far less risk.

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