Word: spent
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...about every provision in the package: Will it stimulate the economy quickly? Will it create long-term fiscal obligations? Also, is it something we ought to do anyway? We need to zap the economy with a big jolt of federal dollars, and it's important that those dollars be spent in timely and temporary ways. But it's just as important that they be spent in ways that promote national priorities rather than undermine them. Fast is good, but this downturn is likely to last a while, no matter what the feds do. So smart is better. (See pictures...
...Army Corps of Engineers, which is addicted to projects that destroy wetlands and induce development in vulnerable floodplains. There's $14 billion for school modernization, $100 million for rural business loans, $8.4 billion in "state- and tribal-assistance grants"--and who can say how it will all be spent? (See the top 10 financial collapses...
Well, Congress can say. For example, Commerce Committee chairman Henry Waxman inserted language into the House version that limited energy grants to states that give their utilities incentives to promote energy efficiency. And Congress could make sure the money is spent productively by attaching a few general strings to the stimulus dollars. For instance, there should be "fix it first" provisions to prioritize repairs to highways, levees and other infrastructure over new construction, which would create more jobs while reducing future federal obligations. We do need to rescue states to prevent them from raising taxes and firing workers, but just...
Accompanying Walter's story is a terrific piece by our well-known tech editor-at-large Josh Quittner, who believes that the salvation of journalism may lie in a combination of the next generation of e-readers and micropayments. Josh, a former editor-in-chief of Business 2.0, has spent more than a year thinking and reporting on this idea. The advent of the iPhone and devices like it--killer gadgets connected to a store where one can make a micropayment with the touch of a button--was his eureka moment. I think Walter's and Josh's insight, reporting...
...tell someone who lives in Aspen that you spent five days skiing and watching sixteen films, they might suspect that you spent the week on a cocaine binge with the ghost of Hunter S. Thompson. If you tell the same story in Park City, Utah, though, even your cab driver will give you a knowing smile that says, “Your first Sundance Festival...