Nov 22, 2008

Another Take on Economic Stimulation

It's been another tough week for economic news and I am starting to see the effects close to home. I am sensing some increased uncertainty in capital projects, seeing a lot of houses on the market and store fronts for rent, and neither of us are feeling like a big Christmas is in order this year.

President-elect Obama is now proposing his own economic stimulus package. The NY Times ran an article on it here and a video of his short speech is available on You Tube (click window above to view).

I like the sounds of this program better than the previous bail-outs. Obama is talking about a two year program to repair infrastructure, modernizing schools and move us toward renewable energy. This seems a lot more pragmatic than pouring money into banks or cutting loans to out-of-touch auto manufacturers. Sort of a modern New Deal.

I will be curious to see if he is able to pull this off and how effective this is.

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