Should we Defer Infrastructure Construction Until the Cost of Funds is 10 Percent?

 The yield on the US 10-year bond has just fallen to 1.6713%, another record low.  That's lower than inflation, which means if the government borrows $1 trillion today, they will repay ~$4 billion less than what they borrowed in 10 years.  And why is it that we are not building high speed rail, and roads, and bridges, and electric transmission lines, and funding basic research to beat the band this very minute?