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The Wall Street Journal reports that Barack Obama (*DfOaLG), in his State of the Union speech, will call for…wait for it…increased spending. He must have been reading Paul Krugman’s weekly praises of Keynesian stimulus in the New York Times -
Mr. Obama will argue that the U.S., even while trying to reduce its budget deficit, must make targeted investments to foster job growth and boost U.S. competitiveness in the world economy. The new spending could include initiatives aimed at building the renewable-energy sector—which received billions of dollars in stimulus funding—and rebuilding roads to improve transportation, people familiar with the matter said. Money to restructure the No Child Left Behind law’s testing mandates and institute more competitive grants also could be included.
While proposing new spending, Mr. Obama also will lay out significant budget cuts elsewhere, people familiar with the plans say, though they will likely fall short of what Republican lawmakers have requested.
In arguing that U.S. competitiveness is at stake, Mr. Obama plans to use his nationally televised speech to try to frame the spending debate with Republicans that is expected to dominate Congress in the coming months. “We seek to do everything we can to spur hiring and ensure our nation can compete with anybody on the planet,” Mr. Obama said Friday after touring a General Electric Co. plant in Schenectady, N.Y. He cited clean-energy manufacturing, infrastructure and education as keys to competitiveness.
Really? After the experience with “green” energy programs in Spain, we’re going to plow billions (at least) into “clean-energy manufacturing?” Maybe they’re going to spin up some companies to make more of the compact flourescent light bulbs that create a bio-hazard when you break them, or perhaps to manufacture a million windmills that “everyone wants” but no one wants installed near them. Dump some more billions into infrastructure projects, and it will certainly be a boon for the companies making signs that point out which projects are paid for by tax dollars. And then there’s education, the fiscal black hole that absorbs ever-increasing amounts of money, but provides zero additional educational attainment by students.
Yep. I’d say he’s right on target. Read more at WSJ
*Descended from Olympus and Lightworker Genius (on the order of Wile E Coyote)
