The Map and the Territory by Alan Greenspan — THIRTEEN | BUFFERS

1. 1. The average age of US highways and streets increased from 16 to 25 years since the early 1970s.
2. 2. The average age of military buildings and facilities has tripled since World War II.
3. 3. The USS Constitution, launched in 1797, is the oldest commissioned warship afloat and still in the US Navy inventory.
4. 4. The Abrams tank and Bradley armored carrier are over 30 years old, but much army equipment is newer due to Iraq and Afghanistan operations.
5. 5. Private sector infrastructure has also aged: manufacturing assets average age rose from under 11 to over 16 years since the 1970s.
6. 6. Funding infrastructure modernization is difficult because the US budget deficit requires raising revenue by a fourth or cutting outlays by a fifth.
7. 7. Buffers are idle resources set aside for contingencies, like military, strategic petroleum reserves, and vaccine stockpiles.
8. 8. The aging and deterioration of fixed capital stock indicates that standby buffers are also in decline.