The High Cost of Congestion

Transportation expert Alan Pisarski used to say the only solution for the U.S.'s traffic problems would be a 10% unemployment rate. Not quite. Downturns do ease slowdowns, but there's a slight curve to the relationship. A recent study from the Texas Transportation Institute found that Americans still spend an extra 34 hours a year in their cars because of traffic. The reason: although fewer people are working, more Americans are taking jobs farther from their homes. The TTI expects tie-ups to climb as the economy improves. Coincidentally, President Obama recently proposed spending $50 billion to upgrade our infrastructure, which might ease some of that congestion. Many Republicans say we can't afford it. But the TTI estimates that congestion already costs us $101 billion a year, or $713 per urban commuter, in extra fuel and wasted time. That's about what we spend each year to service our overused cars.

AVERAGE TIME SPENT SITTING IN TRAFFIC PER YEAR--AND WHAT THAT COSTS US

[The following text appears within a map. Please see hardcopy or PDF for actual map.]

Seattle 44 hours $942

Portland 37 hours $744

Boise 19 hours $345

Salt Lake City 27 hours $512

San Francisco 50 hours $1,019

San Jose 37 hours $721

Las Vegas 28 hours $532

Los Angeles 64 hours $1,334

San Diego 38 hours $794

Phoenix 35 hours $821

Albuquerque 25 hours $525

Denver 49 hours $993

Minneapolis 45 hours $916

Omaha 21 hours $389

Wichita 20 hours $379

Dallas 45 hours $924

Houston 57 hours $1,171

Milwaukee 27 hours $541

Chicago 71 hours $1,568

St. Louis 30 hours $642

Memphis 23 hours $722

Nashville 35 hours $722

Atlanta 43 hours $924

New Orleans 35 hours $746

Boston 47 hours $980

Detroit 33 hours $687

Cleveland 20 hours $383

Philadelphia 42 hours $864

New York City 54 hours $1,126

Washington 74 hours $1,495

Miami 38 hours $785

CHANGE SINCE 2005

MORE CONGESTED

THE SAME

LESS CONGESTED

Source: Texas Transportation Institute; congestion costs based on value of time lost in delays and excess fuel consumption

STOCKS

Presidential Market Bust

The third year's a bear for Obama

The Dow has risen in the third year of every presidential term since Franklin Roosevelt's first. But a weak economy, gridlock in Washington and troubles in Europe could end this historical market trend. Presidents typically prime the economic pump before election years. But after a steady diet of stimulus programs, Congress has so far resisted Obama's new jobs bill.

Average stock-market return in each year of the presidential cycle since 1833

How the Dow has done under Obama

OBAMA VS. THE MARKET