You can get the report card here. It says it will take 2.2 trillion to fix it.
Within the next five years, an estimated 45 percent of engineers in U.S. electrical utilities will be eligible for retirement or will leave for other reasons, according to a 2008 survey by the Center for Energy Workforce Development. That percentage translates into some 7,000 power engineers that will be needed in the electric utility industry alone. But the problem doesn’t stop there. According to the report, two to three times as many electric power engineers may be needed to fulfill the needs of the entire economy.
Even if universities and colleges were teeming with engineering students, the educational institutions may not be well equipped to handle the demand. The Collaborative estimated that within the next five years, 40 percent of full-time senior engineering faculty will be eligible for retirement and that 27 percent may actually do so. A number of historically strong power engineering programs have ended or are close to doing so. Emerging programs provide hope for the future, but more support is needed. “Besides educating the next generation of power engineers, universities are sources of technology innovations needed for our nation’s energy future,” Reder says.
Edited: The bank bailouts amounted to roughly 29 trillion. Priorities.