Thursday, November 6, 2008

Obama's stimulus plan: New Jobs

Whoever is chosen, we are about to see a strategic shift in US economic policy. Mr Obama's first stimulus package of $200bn will not be used to prop up middle-class spending. It will go on roads, bridges, ports, and the like, the start of a public works blitz to employ people and build things.

"Some 30pc of the 570,000 bridges in the US are unsafe," said Felix Rohatyn, former Lazard chief and now a Democrat elder, epitomised by the Minneapolis collapse in 2007. "We have a terrible infrastructure problem, which is unforgivable for the world's leading power. We have the potential for an economic relaunch similar to that of Roosevelt in the 1930s."

Would you rather have a $600 check or a new job?

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