Sunday, October 26, 2008

John Kerry wants New Deal II

John Kerry wants New Deal II
Backs big fed stimulus
By Jay Fitzgerald
Saturday, October 25, 2008 - Updated 1d 5h ago

“I am for a stimulus package. I am not for a stimulus package that just sends out checks,” said Kerry at a Boston Herald editorial meeting yesterday.

Instead, Kerry said the nation needs to spend more in areas that will both help the economy in the short run and long run - such as on roads and bridges, clean energy initiatives and life sciences.

Calling current financial woes the most “complicated economic time we’ve had since the Great Depression,” Kerry said new approaches are needed to reform the current financial system.

“We’re operating with old institutions that are incapable of responding fast enough, dealing with vast sums of money that cross boundaries in different financial centers,” said Kerry, who plans to provide more details of his economic agenda Tuesday at North Shore Community College in Lynn.

Democrats in Washington are pushing for more New Deal-like spending approaches for helping the economy, while the Republicans support boosting the economy via tax cuts.

Democrats definitely have the right idea on this

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