CONS: How long can the US maintain it's innovative world cl status without modernizing our cities?

I know Obama is blowing alot of steam but I do agree with him on this. Even a city like NYC doesn't look all that futuristic and modern anymore. Old decrepit subway trains, Amtrak sucks and US based Airlines are a DISGRACE. Yeah Europe is drowning in socialism but at least they're cities are modern and well built. Same with Asia and slowly the Middle East is building amazing cities. How exactly is the US supposed to stand tall with old rotting cities?