Your suggestion looks good on paper. Unfortunately these types of programs do not create wealth and sustain production. It's a short term solution to a long term problem. Only the wealthy would benefit from an infrastructure program such as this. Not to mention that all the funding would have to come from an already bankrupt government which would mean more taxes or monetization(inflation) to fund the program. Also these programs steal productive farm land away from property owners through iminent domain. The only thing that will turn this boat around is growth around Mining, Agriculture & Manufacturing and the operations that support these endeavors. These are the only real sources wealth creation when a product is made into something more valuble. This is why China is kicking our butts economically.
I recommend a good read called 'The road to serfdom' by Hayek. It's good read about the ills of centralized planning. What we are experiencing is the result of centralized planning.