BECAUSE it is always a good time to relitigate America's fiscal stimulus, the blogosphere has spent the past week or so relitigating America's fiscal stimulus. Rather than plunge headlong into the fray, I'll attempt to distill some fiscal policy truths that should be reasonably acceptable to most participants.
Yesterday, two NTIA Recovery Act broadband grantees were among 11 local leaders from across the country honored at the White House as “Champions of Change.” Joe Freddoso, President and CEO of MCNC, and Donald Welch, President and CEO of Merit Network Inc, were recognized for using innovative techniques to develop valuable projects helping to improve America’s infrastructure. Merit Network and MCNC both received Recovery Act grants from NTIA for broadband infrastructure projects that are currently underway and connecting community anchor institutions in Michigan and North Carolina, including schools, libraries, and hospitals, to high-speed Internet. Under the leadership of Welch and Freddoso, Merit and MCNC have put hundreds of people to work and are laying the groundwork for sustainable economic growth and improved education, healthcare, and public safety.
OTTAWA — The devil is in the details of the federal government’s new $14-billion infrastructure program.
Prime Minister Stephen Harper unveiled the Building Canada Fund this week, saying “our commitment to small communities has never been stronger.”
But what he didn’t mention is that the 10-year program will actually limit funding for local roads — the biggest infrastructure need of small communities — and tighten requirements for public-private partnership spending on community projects.
OTTAWA — The Conservative government has added the long-awaited fuel needed to generate its new marquee infrastructure program.
For cities and municipalities across Canada, the new Building Canada Fund will pile $14-billion over 10 years into sorely needed new and upgraded construction projects.
“This will allow those whose job it is to make infrastructure decisions to plan those decisions with assurance over the long term,” Prime Minister Stephen Harper on Thursday at a community centre in Gormley, Ont., north of Toronto.
MONTREAL — Dozens of suspects accused of corruption at Quebec’s municipal and provincial levels have also been involved in national politics, giving more than $2 million in donations to federal parties, an investigation by The Canadian Press has revealed.
Barry Ritholtz has another thought-provoking post over at TBP, 10 Things Making Me Nervous.
This one in particular surprised me:
10. Consensus that gridlock is good: I am becoming increasingly wary of the consensus belief that gridlock is such a wonderful thing. If most of the market and economic gains have been driven by Fed/Treasury action, what does gridlock say about future market action?