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Productivity is impressive.
Air safety regulations, of course, would remain the responsibility of the federal government. The advantages of an entity accountable to the users of the system are manifest. Instead of being beholden to the disruptive vagaries of Washington budget politics, such a corporation would have a stream of revenue based on the services it actually provides. It would be allowed to float revenue bonds to get the capital needed for constant modernization. It would thus get the most effective technology.