Barack Obama and his team are devoting much effort to a proposed stimulus package for 2009, but that is simply a superficial fix, writes James K. Galbraith in Mother Jones. “The effect ends when the stimulus does, when the sugar shock wears off,” says Galbraith, who suggests five areas Obama should address instead:
- Fix housing: Restructure failed mortgages, keep people in their homes.
- Use federal grants to keep state and local budgets from imploding.
- Provide elderly income support: Increase Social Security benefits.
- Give workers an immediate 8.3% raise by declaring a payroll tax holiday.
- Form a Department of Energry and Climate: Foster green technology and a green economy.