White House officials said the $50 billion in new government spending would be the first installment of a six-year transportation strategy that would include investments in high-speed rail and air traffic control. To pay for it, the administration would raise taxes on oil and gas companies.
If approved by Congress, the funds would build or repair 150,000 miles of road, 4,000 miles of railroad track and 150 miles of runways, the officials said. The proposal includes the creation of an "infrastructure bank" to prioritize projects and attract private funds.
Here's my take: Republicans are talking about cutting social security, my health insurance premiums are through the roof because I hit a new age bracket, and two months before elections, Obama finally proposes a remedy: a transportation bill. I'm sure that will put a lot of people to work, but what about the people who don't work in construction, engineering, transportation, solar energy or local government? How will they benefit? Not to mention, it's a six year plan. Who can wait six years for the trickle down?
Obama's also proposing businesses get tax relief. That means big business, like those who can afford R&D projects. How about something for the mom & pop businesses? And how transparent, to do it right before the midterm elections.
I may not know much about the economy, but I do vote, and I suspect there are many people out there who know even less than me, who are listening to Obama and scratching their heads. Good thing for the Dems I'd never vote for a Republican, but I'm a dying breed.
Memo to Dems: If you want votes, you need to earn them. Provide us with health insurance. Reduce our tax rate (not those of big business.) Promise us that our social security benefits are safe, we won't have to work to age 70 and we will get our full share. If you can't afford these things, then start chopping to save enough money to pay for them. Need a place to start? Funds for the war on drugs, the war on terror, the war in Afghanistan. Close Gitmo, fold the military commissions and try the detainees in federal court or send them home. Increase federal good time, end mandatory minimums so we pay less for incarceration.
This is an open thread, all topics welcome.
