China Does it Right

China announced a $586 Billion stimulus package, this will be spent on infrastructure by 2010. According to the New York Times, the money will include "constructing new railways, subways, airports and rebuilding communities".

Meanwhile, here in the US, we have a nearly trillion dollar "bailout package" for Wall Street and the Banks!

So the Chinese will be getting buildings, roads, public transportation and cities. All of that good stuff that creates jobs and produces something. What will we get? We'll get bankers buying other bankers, bonuses and dividends to stockholders. No infrastructure, no jobs.

So who is in action? That's a rhetorical question. Over the same period, our politicians are talking about a few hundred billion in stimulus checks, perhaps $30 billion or so to energy infrastructure. According to the "Obama-Biden Energy Plan", they will be "strategically investing $150 billion over the next ten years to catalyze private efforts to build a clean energy future". It is important to note that this plan permits the new administration and congress to earmark energy monies for bailing out the automotive manufacturers. This will be done to reward the UAW and other unions who strongly supported the Obama-Biden campaign. However, unless the transportation system in the US is transformed, this money will be wasted. Unfortunately, insufficient funds have been allocated by the Obamam-Biden team to do such a thing.

Do you think we have a problem here?

The article: China Unveils Sweeping Plan for Economy

The Obama-Biden Energy Plan: http://my.barackobama.com/page/content/newenergy