Thursday, July 16, 2009

The House Does NOT Like Larry Summers

Here are some Transpo folks quotes from the Hill Article:
“These theoretical economists don’t understand how the program works,” Oberstar told The Hill....“Who’s managed a construction firm? Who’s met a payroll?”

Rep. Peter DeFazio (D-Ore.) said Obama’s top economic advisers see only two ways to boost the economy: through tax cuts or by bailing out Wall Street firms like Goldman Sachs.

“It wasn’t productive activity, it didn’t put any Americans back to work, it didn’t rebuild our infrastructure, it didn’t even fill in a single pothole,” DeFazio told The Hill on Tuesday when asked about Obama’s approach. “But that’s their orientation.”


Justin said...

Geitner, and Summers are leftovers from the Bush Administration. Obama really screwed up on those appointments.

EvergreenRailfan said...

I love how people like Summers dislike infrastructure spending, supposedly because they think Government spending on it takes away from building wealth. I wonder, what is the term for the roads, bridges, rails, telecommunications, electricity, water, and sewer lines leading into Wall Street so it can run? Isn't that called Infrastructure? Building it and maintaining it employs people.

Great to have some diversity on the Council of Economic Advisors at the White House, but the DLC/Free Traders should be told, "We asked you to come aboard, but you cannot monopolize the conversation/policy decisions".

Now I do understand that the Highway Trust Fund is either about to go broke, or is broke. The Gas Tax may need to be reformed, but while they are doing it, should not miss a golden opportunity to change policy when it comes to transit, especially rail transit. Here, King County Metro just made an order to replace some 40ft buses bought in 1997, they are due to arrive in 2011. These 93 will be replacing 93 of an order for 400 at the time. The oldest of that order might be closer to 20 when they are retired. The FTA rules are for 12 years for a diesel bus, 25 years for a LRV. I wonder which one is the better investment.

Alon Levy said...

Summers served under Clinton, not Bush.

Jon said...

where did obama find these guys? a cato convention or were they left in the top drawer of bush's old file cabinet?