Irwin Kellner, chief economist for MarketWatch, suggests a better use for the billions contained in the economic stimulus legislation:
Right now federal money for states and local governments is aimed at big capital projects such as buying new trains or busses. But what is the point of buying new transit equipment if the local systems are mothballing their fleet because of service cuts?
Better to use these funds to help eliminate fares and maintain or increase service. It also avoids the government giving people tax cuts with one hand while taking them away with the other.
