President Joe Biden says the government will pay “the full cost” of rebuilding the Francis Scott Key Bridge in Baltimore, Maryland, where a blacked-out cargo ship crashed into the bridge early Tuesday morning.
“We will pay the full cost of rebuilding that bridge. I hope Congress will support my efforts,” Biden said. Said At a White House press conference. “It’s going to take some time. But the people of Baltimore are counting on us to stick to this policy every step of the way until the ports are reopened and the bridges are rebuilt. I won’t.”
Asked whether the company that operated the ship should be held responsible and pay for the repairs, Biden said, “We’re going to pay to rebuild the bridge and get it open.”
He didn’t say how much it would cost.
He said he spoke with Transportation Secretary Pete Buttigieg and said, “‘We’re going to spend all the federal resources necessary to respond to this emergency.'” Together, we will rebuild our ports using all of the resources of the federal government. ”
U.S. Secretary of Transportation Pete Buttigieg (Drew Angerer/Getty Images)
He said rescue efforts were a top priority and vessel traffic in the Port of Baltimore was suspended until further notice.
“The route needs to be cleared before shipping can resume,” he said.
The port said it handled “a record amount of cargo last year.”
“We are also America’s largest port for the import and export of automobiles and light trucks. Approximately 850,000 vehicles pass through this port each year, and we intend to have it up and running as soon as possible.” Biden said. “15,000 jobs depend on this port and we will do everything we can to protect those jobs and help our workers.”
He said the bridge was “crucial for travel” for the Northeast Corridor. “More than 30,000 vehicles pass through the Francis Scott Key Bridge every day. It is virtually…one of the most important elements to the Northeast’s economy and quality of life,” he said.
“I moved heaven and earth and instructed my team to reopen the port and rebuild the bridge with human power as soon as possible,” he added.
WATCH: ‘Mass Casualty Incident’ — 1.6-mile Baltimore Bridge collapses after being hit by cargo ship
Breitbart News reporter John Carney reported that the bridge collapse would pose a risk to the U.S. economy of further inflation, reduced production capacity, and widening government deficits.
Carney said port closures could cause severe supply chain disruptions to both consumer goods and imports of industrial products used in products made in the U.S., creating additional inflation in the U.S. increased risk of
Inflation, while down from the extremely high levels seen during the first two years of the Biden administration, is still rising by historical standards and at levels the Federal Reserve deems appropriate for a healthy economy. exceeds. Inflation has been unexpectedly high in the first two months of 2024, raising concerns that disinflation may be fading.
Carney added that the government’s repair costs would “increase the budget deficit at a time when federal borrowing is already very high historically,” further exacerbating inflation.
Follow Christina Wong on Breitbart News “X,” society of truth,or Facebook.
