Obama Has A New $1 Trillion Stimulus Idea That Won't Do Anything

The new White House stimulus idea: Get foreigners to pay for it.

WSJ and other outlets are reporting that Obama will unveil a scheme to attract $1 trillion in foreign direct investment over the next 5 years.

The truth is, that’s not all that ambitious. It’s only $50 billion each quarter, and as you can see, we already do that from time to time.

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What’s more, the scheme mainly seems like it will be about cutting red tape, and more direct lobbying of foreign CEOs, rather than anything meaty, like tax breaks.

Still, $1 trillion is a good number, and it has Jeff Immelt’s endorsement.

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