A national infrastructure program. That is spending on alternative energy infrastructure and massive transit upgrades. This would do two things as Jerome states so well:
...provide a real boost to the economy in the sectors that actually need it, would reduce oil&gas consumption and carbon emissions, and be an actual investment in the future, as opposed to the current drain on the future that's been engineered via debt used on mindless consumption of junk.It would sure beat everyone getting $600 dollars to spend on goods made overseas. But what makes this a better investment? Recently a report from the Institute of Policy Studies came out that discussed the jobs created in the defense industry versus other key sectors that need investment. Spending on education and transit created far more jobs than defense. Transit was the highest job creator and created predominantly middle class jobs with incomes between $32-$64k. I would imagine greater increases in spending for transit would generate even more jobs as there are needs for manufacturing when demand is created.
(H/T Free Public Transit Blog)