We all know my plan for the economy.
Here’s what the men with the power are doing:
Obama’s rescue plan is taking shape and it’s bigger than anticipated: $500Billion in new-jobs spending and tax cuts. Injecting money is one of the only options left to stimulate consumers into spending, since interest rates are already at near zero.
We can only hope that this ear-marked money can indeed go to job creation (think: green infrastructure projects) and not to yet more bail-outs.
And in Canada, Harper is also considering a deficit budget, the first in seventeen years. His take on the economic outlook? “We are talking here about the development of economic conditions around the world and in the industrialized world that we have not seen in over 70 years,” Mr. Harper said.
Hold on tight folks. And make friends fast. We may need all the community and support we can get for a while.