The state of U.S. roads, bridges and airports is embarrassing, according to President Barack Obama.

Speaking before an audience of chief executives at theBusiness Roundtable’s Washington headquarters, Obama recalled the gleaming new infrastructure he saw when he traveled to China last month for a meeting of Asia-Pacific leaders.

“One thing I will say is if they need to build some stuff, they can build it,” Obama told the CEOs today. “And over time, that wears away our advantage competitively. It’s embarrassing.”

While Obama has been campaigning for greater spending to repair and upgrade the nation’s infrastructure, the administration and Congress haven’t been able to agree on a long-term funding plan. The 18.4 cents-a-gallon federal gasoline tax, the primary source of highway and mass transit funding, hasn’t been raised since 1993. Obama, along with most lawmakers, has opposed raising the tax or instituting a levy based on miles driven.

David Fuller's view

My impression is that National governance remains a problem in the USA.  However, following the bear markets in 2000 and 2008, corporate governance has improved considerably.