Media around the world is focused on the U.S bail out. I know this as
a fact, sitting in a hotel room in Venice hearing CNN, CNBC, BBC, &
SKY News spend significant time on bonuses paid with stimulus money.
In the Congress we now have hearings on who knew what about who all of
which I tend to catogories as political theater. A stimulus strategy
should stimulate and to do that we have to spend money.
What if we spent just a little air time or political sound bites
around the relatively minimal increases in strategies that put dollars
directly on the street. The New Markets Tax Credit program will see a
$3 billion temporary increase and the Community Development Finance
Institution program a $100 million one year increase and a $200
million administrative budget increase enabling funds to flow directly
to main street America. These programs and others like them are a
small but critical part of doing what some of us have been doing for
some time, revitalizing the economy. Yet I’ve not heard a minute of
press time or political air time to focusing on what could work. It is
good to remember you can’t believe everything you hear.