The need for infrastructure improvements in the United States is obvious. A drive across town, across the state or across the country reveals aging roads, bridges, dams and railroad beds, and failing sewer systems.

A recent study found that Pennsylvania has a higher percentage of deficient bridges than any other state. Other reports by federal agencies show that 25 percent of the nation’s 600,000 bridges need significant repairs, and about a third of America’s major roads are in a substandard condition. But those reports are not necessary — anyone can see crumbling concrete, exposed rebar, rusting bridges and, as always in the spring in this part of the country, gaping potholes.

While the rest of the world is investing in new infrastructure, the United States seems to be falling behind, coasting on investments made decades ago.

More people are now coming to the conclusion that a massive investment, like the historic national interstate highway project launched during President Dwight D. Eisenhower’s administration, is again needed. The current federal budget crisis and challenging shortfalls in most states make such a project seem out of reach now. But, this could be exactly the right time to launch a major infrastructure investment — to prepare the United States to better compete in the global economy, to provide a million or so jobs and a needed boost to the economy.

One idea being considered is an infrastructure bank, which would involve the federal government providing funding leveraged to attract private money. Last month, a bipartisan group of senators proposed just such a program. It’s been suggested before, but conditions are right now for it to happen.

While the idea makes sense, President Barack Obama and Democrats in Congress damaged their credibility on the subject when, in 2010, they sold the $780 billion stimulus spending plan as infrastructure investment for “shovel ready” projects. Months after it was passed, the public learned that the stimulus money was mostly given to states for Medicaid support and to prevent teacher layoffs at public schools. Very little of the money went to infrastructure, despite politicians’ promises.

But, the idea of an infrastructure bank can still be sold to the public. Most Americans see the desperate need for improvements to roads, bridges, dams, levees, sewer systems and a strained electric power grid. They also understand that a modern infrastructure is critical to the U.S. economy and that such investments create jobs. Even in today’s climate of deficit reduction, infrastructure work is seen more as an investment than an expense.

The idea has broad, bipartisan support — a rarity today.

Two former governors, Democrat Ed Rendell and Republican Arnold Schwarzenegger, are leading a group promoting infrastructure investment. The latest plan in Congress is co-sponsored by Sens. John Kerry, D-Mass.; Kay Bailey Hutchison, R-Texas; and Mark Warner, D-Virginia. The Kerry-Hutchison plan calls for seeding the bank with $10 billion from the Treasury and using that to attract private money for leverage and to fund as much as $640 billion of work over the next decade.

Because the money would be used as loans, not grants, the plan calls for initially supporting projects that generate cash, like toll roads, water systems, and energy-related projects built by utilities.

To ensure that such funding would not turn into a giant earmarks program benefiting constituents of a few powerful members of Congress, the investments would be selected by an independent, bipartisan panel appointed by Congress and the president. And to reduce waste and prevent abuse, projects would be audited by the Government Accountability Office.

Illustrating why the project makes sense, Kerry said it well: “We can either build, and compete, and create jobs for people. Or, we can fold up and let everybody else win. I don’t think that’s America.”

Demonstrating additional bipartisan support, the infrastructure bank is supported by unions as well as the U.S. Chamber of Commerce — groups normally on opposite sides of an issue.

Despite the ongoing debate over how to reduce government spending, most Americans can see the obvious need to launch a massive reinvestment in infrastructure. For those not seeing it from the driver’s seat of their car, the History Channel has recently been rebroadcasting “America’s Crumbling Infrastructure,” a program that first aired in 2009.

Americans should support a major, innovative program with no partisan potshots that invests in our nation’s competitiveness going forward and creates a million jobs in the process.