Stimulus: Make It A Trillion

Stimulus: Size Matters

It was not the big spending of the New Deal that brought the Great Depression to an end, it was the massive deficit spending of World War II. We forget. A do nothing government would be suicide. A do little government would be foolhardy. This is the time to err on the side of doing much. Little will be late soon enough. So the idea that there are politicians who are trying to bring the stimulus down to 800 billion from 820 billion, I find ridiculous. This is slavery to ideology, not to reality, not even crisis reality. The house is on fire, do not ration water.

A crisis is also a time for reinvention. This is a time for America and the world to reinvent itself. The bailout package in America's chance to draw a new financial architecture, for itself and for the world, a new architecture that is fully transparent, fully accountable, and fully global. The toxic assets are bad news. Many banks will go down the tube. Many banks will lose big money. But then the toxic assets never really fell in the category of wealth creation. Sooner or later that truth was going to emerge. Now is that time. It is time for the banks to clean up the slate and start afresh in the banking business. Go back to the fundamentals. Banks take money, banks lend out money.

Constructing new schools was my favorite item in the stimulus package, and they took it out! Put that back in. Build new schools. Every child in America should be getting educated in 21st century schools.

This stimulus package is step one to America becoming a full-fledged knowledge economy. Don't take it from 820 billion to 800 billion. Take it from 820 billion to 900 billion. Put 20 billion down for new schools. Put another 30 billion for broadband. ($6 Billion For Wireless Broadband: Too Little) Put 30 billion down for health care. Make it 900.

And talk to the world. The three biggies are all inter-related. (Global Finance, Global Terrorism, Global Warming) America got itself a Global President, now it needs to get itself Global Solutions to Global Problems. Talk to the world. Work with the world.

Slumdog Millionaire

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Senate Approves Stimulus and Begins Intense Talks New York Times
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