When it comes down to it, so called "big works" projects are no different from an other type of investing (save for the scale they're done on). When you're in

When it comes down to it, so called "big works" projects are no different from an other type of investing (save for the scale they're done on). When you're in recession is the best time to invest - if you're able to scrounge up the cash to do so and the government can do that through seinorage (printing money). Still, if you invest in crap, that money will still be lost. The government must be prudent to put the money toward projects that will be worthwhile in the long-run. For example, the interstate system was a big expense, but has offered vastly improved transportation yielding great gains in commerce. The problem is identifying what will create a long-term healthy economic environment. Of course, that's hard to do. Investing is hard and it actually becomes harder when you have more money. It's comparatively easy to find an idea that will grow from $20,000 to $100,000 in a few years time compared to finding an idea that will grow from $50bn by 5-10% per year. In many ways, I'm glad it isn't my job to figure that out and I do worry about what the government is going to get itself into, but I think we can all take solace that at least "big works" projects would see money spent in America. With the proposals sitting at about the cost of the War in Iraq, I think that we can safely say that we aren't looking at the scope of investment that Japan did and that it's an amount we have already absorbed as money down the drain.