Senator Barack Obama, (D-Ill) today proposed in Wisconsin a 10-year fiscal plan designed to stimulate job growth.  Mr. Obama is proposing spending $210 billion over ten years on infrastructure and environmental industries.  See www.msnbc.com/id/23148959.  To me, Mr. Obama's package appears to make sense and is superior to the $167 billion fiscal fiasco package signed into law today by President Bush.  The Pelosi-Boehner-Bush economic death sentence that was negotiated between Democrats and Republicans in both houses is too temporary and will result in inflationary pressures.  America's problem is stagnant income and erratic job growth.  Mr. Obama's plan provides for a smooth injection of funding over ten years.

There will be stumbling blocks.  First, he has to get elected.  Second, you have to end the war in Iraq in order to enjoy the peace dividend that will pay for some of the plan.  Obama may also have to propose an increase taxes, even though he believes that eliminating the Bush tax cuts on corporations and the wealthy should be enough.  The concern over funding increases when one considers that Pelosi-Boehner-Bush fiasco fiscal policy creates a wider deficit and may hamper Mr. Obama's ability to sell the plan in the first place.

13 February 2008