The Cable Snapped First (Continued)

White House · Public Finance · United States · Asia · politics

Europe doesn’t just build. It links. Through the Trans-European Transport Network (TEN-T), the EU has pledged €25.8 billion to stitch its continent together. Rail Baltica will connect Poland to Estonia. The Lyon–Turin line will cross the Alps. The Fehmarnbelt tunnel will link Denmark and Germany underwater. The goal is full-capital-to-capital high-speed rail by 2050.

Italy is already building the future. Naples to Bari: a four-hour trip cut to two. Southern ports linked directly to the core of Europe.

“We don’t need a moonshot. We need track laid in the right direction.”

Japan’s model is different. Precision. Their Shinkansen network runs with an average delay of 24 seconds. The country’s demographic crisis means bridges and tunnels are aging rapidly—60% will be over 50 years old by 2033. But Japan isn’t letting things fall. They’re inspecting with drones. Rebuilding with seismic standards. Even the Mogami River Bridge, built in 1897, still carries commuter trains daily.

By contrast, in Bethesda, Maryland, WMATA spent 2.5 years replacing a single escalator. Each step required federal review, union scheduling, procurement compliance, and staggered shutdowns. By the time they finished, the parts for the next escalator were already back-ordered.

It’s not that the U.S. can’t build. It’s that our systems are designed not to.

The Biden Infrastructure Law—the largest federal investment since Eisenhower’s interstates—was a start. $1.2 trillion. By late 2024, over 66,000 projects had been funded. More than 196,000 miles of road improved. Over 11,400 bridges repaired. More than 630 projects across tribal nations.580 port and waterway upgrades. It was big. And it was just getting started.

Then came January 2025.

On his first day back in office, President Trump signed an executive order halting disbursements tied to the law and the Inflation Reduction Act. The order, dubbed “Unleashing American Energy,” triggered a review of climate-related infrastructure projects. EV chargers paused. Clean water projects delayed. Wage rules rescinded. Contractors sued. Governors called emergency meetings. Cities braced for clawbacks.

“Now we’re halfway through the tunnel—and we’re being told to go back.”

Some funding was protected by prior contracts. Much of it wasn’t. A federal judge issued a temporary restraining order. But damage spreads faster than repairs.

What makes this different than previous cycles of boom and bust is what’s already visible. The cables are snapping in Boston. The substations are exploding in Brooklyn. The pipes are hemorrhaging in Prichard. The bridges are collapsing in Pittsburgh. The rot is real. So is the rage.

Phil Eng said it best, quietly, without drama:

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