During the presidential election, Barack Obama and John McCain argued over who would take the toughest stance against “wasteful” government projects such as Alaska’s notorious “bridge to nowhere”. It is a sign of how much the political ground has shifted over recent months that Mr Obama now seems to be promising to build bridges and roads to almost everywhere.

The new president has put infrastructure spending at the heart of his proposed fiscal stimulus package, persuaded by his advisers that it offers the most efficient way to shore up the slumping economy.