Tag Archives: Recovery Package

One Obama Supporter Asks For A Side Order Of Substance!

29 Jan

I don’t pretend to be an expert on economics or even what President Obama is advocating for in the coming massive bail out package.  I do pretend to be and am actually someone rooting hard for the new president to make good.

When Barack Obama first started talking about an economic rescue package he often referenced the things FDR did all those years ago to try to revive the battered American economy.  I’ve been reading a lot of opinions on what Obama is planning to do and one criticism keeps nagging at me.

Where is the substance?  What will be accomplished with all of the money?  Sure, we’ll spend it and hopefully it will point the economy in a better direction.  But, then what?

What will we have left behind?  I know that even FDR didn’t spend all of the cash on bricks and mortars stuff.  I also realize that this crisis gives the new president an opportunity to take on much more than the economic slump, as bad as it is.

It’s wise of President Obama and his team to think of ways to use this crisis to achieve changes to social programs and entitlements that greatly effect the American economy.

It’s just that I thought the actual investment in something concrete would be much deeper than what I’m hearing.  I may have the numbers a bit wrong but my recollection is that about $90 Billion will go toward repairing our highways and bridges and other infrastructure.

Not bad right?  Don’t be too sure.  Remember that the  recovery package is zooming past $800 Billion as I type and you read (thanks for that by the way).  So, the percentage going toward infrastructure isn’t as impressive when looked at as a percentage. 

Worse yet, let’s talk about Ike.  President Eisenhower, when he went about creating a nation highway system, funded it to the tune of $25 Billion and that was in 1950s dollars which would make it worth say 800 gajillion dollars today.  Ok, I made that gajillion thing up, but you get the point.  Again, that $90 Billion that Obama is offering isn’t so impressive in comparison.  And PS, the total cost on our highway system came to over 110 Billion.  But, aren’t we glad we have it now?

Unlike certain rotund right wing radio blowhards (yes, you Rush Limbaugh), I do want to see the president (any US president) and America win.  So, I’m rooting and hoping that Team Obama knows what they’re doing.

I just hope there’s something left over after the recovery package for future generations to remember it by.