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.
Welcome to the Finance Fund Blog!
How about some solutions with the theater?
written on March 25th, 2009 | by James R. Klein
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.
Tags: CDFI, Community Development Finance Institution, Congress, New Markets Tax Credit, US House of Representatives
This entry was posted on Wednesday, March 25th, 2009 at 4:03 pm and is filed under CDFI, Commentary, New Markets Tax Credit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.