There is a chance to spend on projects that will yield real value. One example is upgrading the air traffic control system, which could increase safety while reducing delays and fuel consumption. Another is creating standard electronic health records, which would reduce medical costs while increasing research capabilities, diagonses, and accurate prescriptions. I believe that patients will be able to self-diagnose and self-prescribe like never before (which is why medical lobbyists will fight this empowering innovation).
Fortunately for the oil suppliers and doctors, I think that our elected politicians will spend most of the money on the equivalent of digging a ditch, and then filling it back in.
I mean, do I really believe in change I can believe in?
Graph link
here.
UPDATE: Greg Mankiw
asks some great questions.
UPDATE:
IBM CEO Samuel Palmisano agrees with electronic health records, and also identifies broadband and power grid upgrades as worthy initiatives.
Graph link here.
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