Fred” The big challenge with infrastructure spending is that projects with sound benefit-cost ratios have to be ready to implement quickly “

I am pleased you made the observation to “sound benefit-cost ratios” no one, except those immediately employed, and they only whilst employed benefits otherwise.

Certainly something which is best pursued, counter cyclically, during non-inflationary demand times, when the private sector is less likely to compete for scarce skills and government joining the market would only increase pressure on wages inflation.

However, your further comment “and they should be capable of being cut off or slowed down when the economy recovers.”

I would observe, usually the “benefits” are only attained when the project is completed. Spend at the 75% of the effort / expense point and the usual “benefit” is zero.

So having made the observations above I would ask, could you name some of these “infrastructure projects” which you speak of