奥巴马推动经济刺激方案

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President-elect Obama was busy today, buying, "how much is the half-small cup" and selling.  

"Our first job is to put people back to work. "

Buying a lunch of Chili dogs for himself and Washington's mayor at city's Cathedral of Chili and selling new details of its economic stimulus plan in an online video. 

Our plans will likely save or create 3 to 4 million jobs.

Obama's job estimate comes a day after a jarring news that the nations unemployment rate hit 16 year high. One political observer thinks the president-elect is laying the groundwork for breathtaking public spending.

He is raising the number of jobs. He is also edging ever so closer to the trillion-dollar-mark. Government's spending to create public works jobs like road building takes time. In the interim, Obama offers tax cuts ,but that's political calculus about Republican demands, say many experts: not sound economics.

Tax cuts don't yield much in the way of additional GDP and jobs. This analysis says they will, the lessons of last stimulus packages, they didn't.

It's likely that things will get worse before they get better.

Obama faces no dissent from that view, but new jobs are just the beginning of an economic revival.

If he doesn't fix with broker in the economy, namely the banks, our huge dependence on foreign oil and our trade deficit with China, he is not gonna create these many jobs on a permanent basis.

And whatever Obama does, he is driving without a roadmap.

The bottom line is whenever you are dealing with this kind of big sums of money, you never know what the long term effect is going to be.

That's the heart of Obama's political challenge to sell a stimulus plan of huge governments spending, levels we have never seen before with no guarantee it will work. Even Obama's top economic advisors  admit the projection of jobs created and jobs saved are quoted "subject to significant margins of error".

This is truly uncharted ground.

That's a big task ahead of him, Tony Guida, thank you