Some bleary-eyed thoughts from Japan on the reported administration proposal for $50 billion in new spending:Howie P.S.: Anticipate more "infrastructure" talk (in the $200 billion range) from Obama Wednesday in Cleveland.
1. It’s a good idea
2. It’s much too small
3. It won’t pass anyway — which makes you wonder why the administration didn’t propose a bigger plan, so as to at least make the point that the other party is standing in the way of much needed repair to our roads, ports, sewers, and more– not to mention creating jobs. Once again, they’re striking right at the capillaries. MORE...
Tuesday, September 07, 2010
Krugman on Obama's New "Infrastructure" Proposal