Sunday, November 16, 2008

Obama on the economic crisis

Yesterday the office of the President-elect put out a video from Sen. Obama.

This is mostly soothing words to make people feel psychically better (which is the proper role for a leader to play.) We don't want a President Carter malaise speech.

There are some policy comments in there. The creation of 2,000,000 jobs to rebuild roads and the crumbling infrastructure. That sounds like a re-creation of the WPA (Works Progress Administration) from the New Deal. And then the bit about a 5,000,000 new green jobs, but I don't think he means the CCC (Civilian Conservation Corps.) Since I am one of those who thinks FDR's New Deal didn't actually accomplish much in the way of reviving the economy (unemployment rates did not improve during the 1930's) it's going to be hard for me to endorse revisiting bad policies.

No comments: