Stimulus #2 Needs a Target

November 18th, 2008 at 12:39pm Bob Trojan

“Lawrence Summers and Robert Rubin, both senior economic advisers to President-elect Barack Obama, called for substantial fiscal stimulus, signaling a potential willingness in the incoming administration to act aggressively to boost a flagging economy.The two former Treasury Secretaries were speaking at The Wall Street Journal CEO Council, a Washington gathering of top corporate executives and policy makers. They joined the current Treasury chief, Henry Paulson, on a stage to debate tax policy, fiscal stimulus and responses to the financial crisis.” Excerpted from WSJ Nov. 18th.

If there is another give-away, there should be strings attached…like…the money must be spent on American made products, not stuff made in other countries.  It is misleading and unproductive to give money to anybody so they can buy stuff made somewhere else.  See my earlier post “Recession”

Target the money to American made cars, increase export incentives for companies that export their products (China is doing this as part of their stimulus),   spend it on infrastructure like roads, bridges, etc.  Maybe some should be borrowed to Blago so he can release the approved funding for Illinois infrastructure!

If another stimulus is to be passed, it should be targeted for U.S.A manufactured products; this is a way to create JOBS!!

Entry Filed under: Economy