Obama tries to jump-start economy: too little, too late?

Standing before a crowd of union members and leaders at the Milwaukee Laborfest yesterday, President Barack Obama called on Congress to pass a $50 billion public works plan that would rebuild and modernize the country’s transportation systems; it’s a move designed to create jobs and help jump-start the economy.

The president’s critics, particularly Republicans, are calling his actions too little, too late.

Simon Johnson, former chief economist of the International Monetary Fund and a professor at the MIT Sloan School of Management, says he wouldn’t frame it as “too little, too late,” and believes that the latest events show the basic limits of government. “Government can’t solve all your problems.”