President Obama’s New Deal Plan
By: Joel Gaines
December 22nd, 2008
This is a transcript of a discussion on yesterday’s show:
President-elect Barack Obama calls it “the largest new investment in our national infrastructure since the creation of the federal highway system in the 1950s.”
The New Deal – all over again.
Most of the infrastructure spending being proposed for the massive stimulus package that Obama and congressional Democrats are readying, however, is not based on anything new. The money will go to projects that have been on the wish lists of state highway departments for years.
Obama wants to “rebuild America” with an “infrastructure bank” run by a new board that would award $60 billion over a decade to projects such as high-speed rail to take the country in a more energy-efficient direction. But the current economic issue has put some pressure to start projects immediately – low hanging fruit – “use it or lose it,” according to Obama. What he means is that while America is in a spending mood, we gotta get some stuff started. Gotta get the spending started. But let’s take a look at the New New Deal – and actually the Old New Deal for that matter.
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