Building a new foundation requires a lot of heavy machinery. Bulldozers to clear the land, extractors to dig the foundation, concrete-mixers to pour the cement and trucks to haul the raw materials. So perhaps it's appropriate that Jim Owens, the CEO of Caterpillar will be at the White House tomorrow for the first meeting of the President’s Economic Recovery Advisory Board (PERAB). The group includes some of America’s leading thinkers, business executives, and academics, including the CEOs of GE, UBS, and Google. (full list here)
The Board was created by President Obama in February to provide an outside-the-Beltway perspective on how we can recover from the financial crisis and build a new foundation for the American economy. "New Foundation" is emerging as the catch-all phrase to describe Obama's domestic policy agenda, similar to FDR's "New Deal" or Johnson's "Great Society" as a recent New York Times article points out. It's a good term, capturing both the shaky and unsustainable foundation of our past economic growth and framing out the kind of economy we need to build for the long-term. We are well past the time for patchwork solutions. We must rebuild and we must rebuild the right way.
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and trucks to haul the raw materials. So perhaps it's appropriate that 