Few people know how to pull a rabbit out of a hat better than Felix Rohatyn, who is credited with saving New York City in its fiscal crisis thirty years ago. Today in Forbes he calls for an "investment oriented stimulus package", noting that paying for infrastructure is not a bailout but an investment in the future. After the usual suspects like roads, bridges, transit and schools, he goes on:
"A second area of public investment that merits inclusion in a stimulus package is the transition to a new energy-economy. The bulk of this work is the responsibility of our businesses and households. But the federal government should itself, and through grants to state and large cities, fund the immediate implementation of alternative energy solutions--passive and active solar, wind turbines, alternative-fuel vehicle fleets, and others--in the public sector at all levels. Candidates of all stripes agree that there are millions of jobs to be had in the transition to a new energy system, one that eliminates our dependence on the Persian Gulf while leading us away from the nightmare of a radically different global climate regime. If that is true, then there is no reason not to begin now."