President Barack Obama has launched the US midterm campaign season with a series of major economic initiatives. They include plans to fix America’s crumbling infrastructure, to increase and make permanent research and development tax credits, to create new incentives for small business and to extend the Bush tax cuts for the middle class. Each idea has been met by a predictable chorus of predictions that they could not pass in the current US political climate. While the environment is indeed bleak, the economic situation confronting America warrants a different response.