America's physical infrastructure would look good with a facelift just as a dated home would be better after a renovation, except that renters or homeowners cannot even think about upgrading when they are in debt, but a broke United States can, and even move forward with it.
The rationale is safety. An example is the collapse of a bridge in Minneapolis that killed 13 people, but that was due to a design flaw, not its age. See http://www.popularmechanics.com/science/4245065
If money is going to be spent anyway regardless of the deficit, why not set aside those funds for rebuilding and use them after the next natural disaster? I forgot. There is something like that already called Social Security. It got robbed. Therefore, it is probably wise to overhaul the political infrastructure ahead of the physical one.
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