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Once again, the results of the Urban Land Institute (ULI) /Ernst & Young annual global infrastructure report don’t look good for America. According to the document, “The United States notably continues to lag its global competition—laboring without a national infrastructure plan, lacking political consensus, and contending with severe federal, state, and local budget deﬁcits that limit options.” The end of the federal stimulus package in 2013 makes the picture even bleaker. “The stimulus helped, but it was only a down payment on what’s needed,” said Ernst & Young Global Real Estate Leader Howard Roth at a recent ULI meeting in Phoenix.