Skip to: Content
Skip to: Site Navigation
Skip to: Search
SUNDAY, NOVEMBER 22, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


 ANALYSIS 
22

Recession Is Kaput; Now for the 'Smart Economy'

Share

(Newser) – The Great Recession is cooling off, but Americans will feel the heat for a while—because recovery is tricky this time, Daniel Gross writes in Newsweek. Another economic bubble inflated by consumption would be a mere Band-Aid. That's why President Obama is trying to create a four-sided "smart economy" based on health care, broadband, infrastructure, and green energy. But gauging short-term success is difficult.

The feds have pumped billions of dollars into much-needed alternative energy, admittedly not a quick unemployment fix (consider the staff size on a wind farm). Health reform will save money through negotiating power and efficiencies, but could cost $1 trillion over 10 years. So let's think long-term, Gross urges. "Declaring the stimulus a failure five months after its passage is a little like calling the results of a marathon at the second-mile marker."

A ChevronTexaco employee walks between solar panals at Solarmine, the first solar photovoltaic facility in California to help power oil field operations, on July 8, 2003 near Taft, Calif.
A ChevronTexaco employee walks between solar panals at Solarmine, the first solar photovoltaic facility in California to help power oil field operations, on July 8, 2003 near Taft, Calif.   (Getty Images)
President Barack Obama looks at solar panels at Nellis Air Force Base in Nevada, Wednesday, May 27, 2009.
President Barack Obama looks at solar panels at Nellis Air Force Base in Nevada, Wednesday, May 27, 2009.   (AP Photo/Charles Dharapak)
Two workers maintain solar panels on the roof of a warehouse on May 13, 2005 in Buerstadt, Germany.
Two workers maintain solar panels on the roof of a warehouse on May 13, 2005 in Buerstadt, Germany.   (Getty Images)
EcoXperience, a new ride and drive element highlighting the green future of the automotive industry is shown at the North American International Auto Show Monday, Jan. 12, 2009, in Detroit.
EcoXperience, a new ride and drive element highlighting the green future of the automotive industry is shown at the North American International Auto Show Monday, Jan. 12, 2009, in Detroit.   (AP Photo/Paul Sancya)
In the August 3 issue of Newsweek.
In the August 3 issue of Newsweek.   (PRNewsFoto/NEWSWEEK)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.20.09
The Health-Care Wars Have Just Begun
11.19.09
Sarah Palin Deserves Some More Attention
22 comments
VIEWING:
 
Yourself
Jul 26, 09 4:51 PM CDT
"the first solar photovoltaic facility in California to help power oil field operations" WOW. REALLY? we're using it to power OIL FIELD OPERATIONS? isn't that just a little hypocritical?? Reply
Vote up! Vote down!
+5
IN RESPONSE:
bewilderbeast
Jul 27, 09 5:29 AM CDT
Don't be anti-oil (or anti-anything). Be pro-Using Less (of everything). And pro-sustainability. Think "What will me grandkids say to me?"
Vote up! Vote down!
0
IN RESPONSE:
Yourself
Jul 27, 09 1:00 PM CDT
my grand kids would say "thanks grand-pa for getting us off our addiction to oil" they definitly won't say "thanks grand-pa for using solar power to help you get that oil we're still addicted to!"
Vote up! Vote down!
+1
2-bits
Jul 26, 09 4:54 PM CDT
Better than using coal, I suppose. Greener is greener. We need oil right now. Reply
Vote up! Vote down!
+2
riffran
Jul 26, 09 5:12 PM CDT
I have six acres of pasture. And no trees. I would LOVE to festoon it with solar panels or wind generators. But I ain't donald trump. When effective solar panels come down in price. I bet WE the people would go for it. But over twenty GRAND to put in a panel array. That won't pay off for 15 to 20 years down the road? That is a hard sell. I applaud those that have managed it so far..... Maybe O should subsidize the little guy instead of big bizzzness Reply
Vote up! Vote down!
+9

View all 22 comments »

LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

167 Stories

paul krugman

 It's About the Jobs, Stupid 

The US needs to create work for Americans

Nov 13, 09 8:20 AM CST
(Newser) - The US has to shake up conventional thinking and create jobs for out-of-work Americans, writes Paul Krugman . Our current misguided thinking—as evidenced by unemployment north of 10%—isn't so much a jobs policy as GDP policy. "If you grow it, they will come," goes the philosophy. Get... More »

MORE ABOUT:
recession • unemployment • economy • unemployment rate

megan mcardle

Expect Unemployment
to Keep Rising

Companies still aren't sold on a long-term recovery

Nov 6, 09 11:33 AM CST
(Newser) - Anyone hoping that today's worse-than-expected news of 10.2% unemployment means we've hit rock bottom is going to be disappointed, writes Megan McArdle . "This figure is likely to get worse before it gets better." Companies need more proof of a long-term recovery before committing to new hires. In... More »

MORE ABOUT:
recession • unemployment • economy • recession depression • jobless • unemployment rate

 Unemployment Jumps to 10.2% 

Companies cut 190,000 jobs last month

Nov 6, 09 7:50 AM CST
(Newser) - Unemployment cracked the 10% barrier last month, as 190,000 workers lost their jobs, according to Labor Department figures released today. The bigger-than-expected losses bring the rate to 10.2%, a 26-year high. And the underemployment rate, which includes would-be full-timers working part time and those who've given up looking... More »

MORE ABOUT:
recession • unemployment • Department of Labor • payrolls • economy • underemployment • unemployment rate

167 Stories


Business  •  Politics  •  US 
TwitterFollow @NewserBusiness on Twitter

 
health care • broadband Internet • recession • recovery • infrastructure • green technology • economy • economic recovery

from our news partners