Phoenix Business Journal
January 14, 2009
Barack Obama’s $1 trillion stimulus package is aimed at propping up the slumped U.S. economy via New Deal-style government spending on public works and alternative energy as well as tax rebates and domestic job creation.
But as details of the plan are revealed, some Arizona economists are raising concerns. Arizona State University finance expert Anthony Sanders, for example, questions the economic sense of funds for mass transit and how quickly the plan will boost employment. While Byron Schlomach, an economist for the Goldwater Institute, says much of the funding aims at the “fondest dreams of liberals.”
Incoming Obama economic advisers and cabinet members outlined the plan in a video on the president-elect’s Web site, change.gov.
Incoming Health and Human Services Secretary Tom Daschle said the stimulus plan will include federal funding for Medicaid and children’s health programs. Democrats have sought to extend programs such as the State Children’s Health Insurance Program to include uninsured middle-class children and to expand other government programs to cover uninsured adults.