I'll put this out there. I'd love to see another "New Deal" type wave of construction projects across the country. I think there are three main areas where we could do with some major overhauling.
1) Move all wires underground. Cable, power, phone, fiber, all of them. A good chance to upgrade internet connections nation-wide while we're at it.
2) Since we're digging anyway, let's look at sewage and water lines. In the past couple of days, Pittsburgh has had a fire that required crews to use a tanker truck to traffic water to the scene because the 4-inch pipe that fed the hydrants nearby didn't have enough pressure to allow them to do their job. And the storms last night caused some pretty severe flooding (up to a foot deep in many places). I'm sure we're not the only city that could stand to improve these.
3) Bridges, under/overpasses. Other roadwork. It's not that I think they're all going to fall down tomorrow, but it's definitely an aging infrastructure that could do with a lot of work.
The government authorized the Treasury to spend up to $700 billion to buy bad investments. This current budget "crisis" isn't anything but a pissing contest between those who have long wanted to cut certain programs and those who have long wanted a higher tax rate on rich people. Without taking sides, I'm saying that the federal government could help state and local officials with a bond release to fund projects like this.
Real work generates real value, and tax dollars. Better roads means less wear and tear on vehicles. Improved municipal services for everyone means improved efficiency and less expensive emergency situations. Faster internet allows the web to grow. Working on the power lines offers an opportunity to create a smarter grid. It would be an expensive investment, but it would generate incalculable returns.