October 17, 2008

BUT WHEN DO I GET MY PONY? (via Kevin Whited):

The next New Deal (Brent Budowsky, 10/14/08, The Hill)

The Gilded Age of George Bush ends; the era of reform with Barack Obama begins. The great realignment is at hand, with prospects rising for a Democratic president and Congress with expanded majorities to initiate a new era of historic patriotic reform.

Let’s revive and revolutionize the auto industry with the next JFK moon shot to create a new generation of fuel-efficient cars that reach 100 miles per gallon or better within five years, and create a wave of new jobs to lift the economy and conserve historic energy.

Congress should return after the election, as the Speaker suggests, to enact a major economic stimulus of at least $150 billion, to give a booster shot to our domestic economy.

The Federal Reserve and global central banks should give the world economy a booster shot with another coordinated interest rate cut of 50-100 basis points. Now.

Who even knew that we were running out of historic energy or that a president elect could dictate Fed policy?

Posted by Orrin Judd at October 17, 2008 7:54 PM
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