|Drown Government Here|
God damn Commies everywhere!
But instead we get posturing on the debt ceiling over how much public spending we plan to drown in Grover Norquist's bathtub.Mr. Biggs, [ya' know, you just can't make up a name like that for an investment banker!] former chief global strategist for U.S. investment banking powerhouse Morgan Stanley, demanded the U.S. government temporarily return to ideas used in the Great Depression as a way to get the country back to higher growth.
“What the U.S. really needs is a massive infrastructure program … similar to the WPA back in the 1930s,” he says.
The plan would be to employ some of the many unemployed people, jump start the economy, as well as help catch up with Asia, which is building state-of-the-art infrastructure from new mechanized port facilities to high-speed trains.
He suggested financing such building through the sale of U.S. Treasuries.