Kerry Pushes Infrastructure Spending During Boston Stop

Massachusetts' senior senator, John Kerry, is trying to drum up support for establishing a national infrastructure bank for public works projects.

Kerry says projects like high-speed rail and other mass transit represent the effectiveness of taxpayer dollars working for the people. His "Build Act" would create a financing authority that would provide loans and loan guarantees to infrastructure projects.

Kerry acknowledges it's important to reduce the deficit and debt, but "right now, we can balance the budget and we can get control of the deficit without turning our back on the investments that create jobs and improve the quality of life for our citizens," Kerry said at South Station Friday.

Kerry says China is spending 9 percent of its Gross Domestic Product on infrastructure and Europe is spending 5 percent. Here in the U.S. that figure is lower than 2 percent.