Tuesday, September 07, 2010

$50B Transportation Stimulus

Yesterday, Obama announced a new stimulus for the American economy. This is a long-term spending plan on transportation meant to create long-term jobs, whereas, the other US stimulus was designed to create immediate jobs. Included in this plan is building 4000 miles of railways. As a railfan, I couldn't be happier that high speed rail is going to be funded. If the US starts constructing high speed rail, Canada could follow. Not only that, but this could be partly paid for by the end of tax breaks for big oil. Unfortunately, this plan might not pass. With the elections coming up, Democrats might lose their seats and we can expect a lot of Republican resistance. High speed rail must come to the United States and Canada to support the economy of tomorrow.
WASHINGTON—President Barack Obama is asking Congress to approve at least $50 billion in long-term spending on the country’s roads, railways and runways in a pre-election effort to show he’s trying to stimulate the sputtering economy.
The infrastructure spending is part of a package of targeted proposals the White House announced on Monday. With November’s elections for control of Congress approaching, Obama planned to discuss the proposal later Monday at an event in Milwaukee marking the U.S. Labor Day holiday.
Read more at the Toronto Star and the Globe and Mail.

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