The Second Stimulus

I don't know if anyone is adding this up or not, but the Obama administration's current economic stimulation proposals sure do look a lot like a second stimulus plan. Take a look:

$50 billion for infrastructure
$100 billion research and development tax credit
$200 billion capital investment deduction
$30 billion fund for small business lending
$18 billion in tax breaks for small businesses
------------
$398 billion in economic stimulus


There's also the idea of extending the Bush tax cuts at least through 2012, which given the economic situation might not be a bad idea though I'm not fully convinced on the need to extend for top earners.

My biggest gripe with this latest round of stimulus is it's still too small. At least in terms of stimulating consumers. The $50 billion for infrastructure is remarkably a low number for what is needed in this country. I personally believe we need something in the realm of $500 billion just to get things moving again. I'm startled to think the Obama administration is serious about $50 billion when they know full well it's way too small.

Last year the State of Illinois passed a $31 billion jobs bill that provided over $14 billion in infrastructure projects.  And it's supposed to be big news the feds want to provide $50 billion for all states?

I suppose if you add in the $100 billion provided for infrastructure in the 2009 Stimulus Plan, the total infrastructure spending would equal about $150 billion.  Still well short of my $500 billion wishful thinking amount.