'Shock' Therapy For Economic Growth?

President-elect Donald Trump's calls for spending up to $1 trillion to improve America's infrastructure has been met with some skepticism.

However, BlackRock, Inc.'s BLK Chairman and CEO Larry Fink is a firm believe that infrastructure spend is vital towards growing the U.S. economy. Speaking as a guest on CNBC, Fink said that one of the reasons the U.S. economy has been growing at a sub-optimal rate can be attributed to the $2 trillion in differed maintenance and infrastructure projects.

"We have so heavily under-invested from the government side state, local and federal," Fink argued. "And I believe that is a major component."

Fink suggested one of the reasons why productivity rates in the U.S. economy remains poor is directly due to the poor state of the country's infrastructure. He said that as a whole, the country's infrastructure certainly doesn't live up to those seen in other countries.

Fink said that by building better roads, airports and ports the economy will see an acceleration in productivity.

"I do believe to shock the economy on the positive side we are going to need a very large 'build America bond' program," he concluded.

Fink also stated his firm, which manages trillions of dollars of assets, would buy such a product but a strong public-private policy in terms of infrastructure projects is also a vital component.