trickle-down economics

Following up on Mike’s follow-up that touched on the failure of trickle-down economic policies to, well, trickle down, it looks like President-elect Barack Obama intends to pursue an altogether different track.
Politico’s Mike Allen has some excerpts from Obama’s prepared remarks, to be delivered today at the National Governor’s Association meeting in Philadelphia.

A $58-billion plan to extend unemployment benefits, pump billions into infrastructure projects and increase funding for low-income nutrition and health-care programs passed the House — and died in the Senate as too expensive. Trickle-down economics lives.

Last week, as White House officials were making the rounds on Capitol Hill to sell their $700 billion Wall Street bailout plan, Sen. Chuck Schumer (D-N.Y.), a member of the Senate banking committee, made a vow: “We will not Christmas-tree this bill with extraneous amendments.”
Right.
Last night, the Senate passed a modified version of the administration’s [...]