January 08, 2009

OBAMA: USA Must "Compete With Kids in Beijing"

In his big economic recovery policy speech today, USA President-elect Barack Obama said the US must create a 21st Century economy and gave somewhat specific clues at to where the up to $1 trillion for "New Deal II" will go:


Power generation by alternative energy will double;
75% of all federal buildings and 2 million homes will be renovated for energy efficiency;
stimulus for jobs that "can't be outsourced ... building solar panels and wind turbines;"

NOTE: Given that the technology leaders in solar and wind are mostly European companies and the greatest production centers are or soon will be Chinese manufacturers - How can solar and wind manufacturing jobs be created in America without preventing imports? Will the stimulus include "buy America" provisions or prohibitive tariffs on imports or other restrictions such as slanted certification processes? Is this a potential protectionist land mine or just political hot air?


All medical records will be computerized in 5 years.


New equipment for classrooms, labs, libraries;
New PCs for schools.


Building programs for roads, bridges, schools;
Creation of smart grid;
Increased broadband access.

And all these programs will be accomplished along with tax cuts! The big winners seem to be the construction and IT sectors of the US economy.

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