Obama's Economic Long View

It wasn't all rosy. We've heard the administration tout its transportation spending through the stimulus lately, and in a speech today at Georgetown University, President Obama said his administration's economic fixes, along with his work at the G20 meeting, are "starting to generate signs of economic progress." But, he warned: "2009 will continue to be a difficult year."

Beyond any immediate economic barometer, Obama's speech was meant to demonstrate that his economic view is a long one. He condemned the "instant gratification" that politicians seek, a tendency he says is exacerbated by the 24-hour news cycle.


While the signs of progress and the "2009" quote are certainly catchy and interesting, this "solid as a rock" parable may be closer to Obama's thesis. He followed it with this blueprint for the new economy he wants to build:

It's a foundation built upon five pillars that will grow our economy and make this new century another American century:  new rules for Wall Street that will reward drive and innovation; new investments in education that will make our workforce more skilled and competitive; new investments in renewable energy and technology that will create new jobs and industries; new investments in health care that will cut costs for families and businesses; and new savings in our federal budget that will bring down the debt for future generations.  That is the new foundation we must build.  That is our future.