Google's plan to attack the recession

Google CEO Eric Schmidt has an idea for the U.S. government that's better than marginal fixes around the edges. Schmidt says it's time for the government to take bold steps to rebuild the nation's economy; and maybe, just maybe, it's a good idea to pay attention to the top executive of a remarkably successful company.

Schmidt said in a speech in Washington, D.C., this week  that it's time to rewrite the book on energy independence and broadband adoption. The economic bailout plans now being considered by Congress should focus on rewarding innovation and putting people to work by building broadband or energy-grid infrastructure, instead of propping up bad investments. Not a bad idea from a guy who spends his time in cyberspace and creating new ways to use it.

"To address our economic problems and create jobs, we need to put innovation first," Schmidt said. He said it's time the president-elect throws out the book on the last eight years, which relied on the private sector to fix many ills. And it's time for a real partnership between government and private businesses to come up with solutions. "We're at the point where we've got to get this right," he said at the event sponsored by the New American Foundation.

He talked about the need to wean the U.S. off of fossil fuels by 2030 and ways to help U.S. automakers begin to produce plug-in hybrid electric vehicles. And he said the U.S. government needs to give billions of dollars worth of tax breaks to producers of solar, wind and other alternative energies, he added. Will this work to turn the U.S. economy around? Well, let's put it this way: Google is a remarkable success story, that started from nothing and is now the gold standard for the way online companies can grow and thrive.

For more on Google's suggestions to stimulate the economy:
- check out this CIO.com article [1]

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Economy news from FierceCIO [3]