Billions For The Economy
November 24th, 2008If President-elect Obama has his way, the economy will receive an injection of billions to rescue the country from a recession. In his Saturday radio address, he said:
I have already directed my economic team to come up with an Economic Recovery Plan that will mean 2.5 million more jobs by January of 2011 — a plan big enough to meet the challenges we face that I intend to sign soon after taking office. We’ll be working out the details in the weeks ahead, but it will be a two-year, nationwide effort to jumpstart job creation in America and lay the foundation for a strong and growing economy. We’ll put people back to work rebuilding our crumbling roads and bridges, modernizing schools that are failing our children, and building wind farms and solar panels; fuel-efficient cars and the alternative energy technologies that can free us from our dependence on foreign oil and keep our economy competitive in the years ahead.
How much will his plan be? The numbers are in the process of being crunched, but economists recommend $300-$400 billion. Last week the Center for Economic and Policy Research released the Economists’ Letter to Congress. According to CEPR, 375 economists from 36 states - among them Nobel Laureates Joseph Stiglitz, Robert Solow, and George Akerlof - urge Congress to move quickly and decisively to pass an effective new economic stimulus package.
The economists says that a stimulus package should target:
a) aid to state and local governments,
b) extending unemployment insurance and increasing benefits for low and moderate income households,
c) moving forward with infrastructure projects already planned and scheduled, and
d) providing tax credits and other support for “green” projects that can be done quickly.
–Heidi Pickman






Once he joins Ron Wyden (D-OR) in the Senate, Merkley promises to get to work on several Apollo-type 
