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Barack Obama wants massive spending for infrastructure, green technology and 2.5 million jobs. On this rebroadcast of today's To the Point, what are the benefits—and the risks—of what he calls a "jolt" to the flagging economy? Then, Obama says California leads the nation on energy and the environment, and backs that up with appointments to his cabinet and the White House.  Also, Jewish organizations in Los Angeles fall victim to a massive Ponzi scheme in New York, and LA’s most successful anti-gang program needs money.

Banner image: US President-elect Barack Obama walks to the podium to give a press conference on energy and the environment with vice president-elect Joe Biden. With him are Lisa Jackson (L), nominated as head of the Environmental Protection Agency, and Carol Browner (2L) as the White House 'climate czar' overseeing the battle against global warming. Photo: Nicholas Kamm/AFP/Getty Images

Main Topic Will Federal Money Mean Economic Recovery? 26 MIN, 6 SEC

President-elect Barack Obama wants a federal spending program comparable to the Interstate highway system, created during the 1950's. But it won't look like his campaign promise to "rebuild America," at least not right away.  The sagging economy has put a premium on speed, rather than the kind of projects that make for a historic legacy. What kinds of projects will be involved? What are the benefits and risks for private businesses and for consumers?

Alec MacGillis, ProPublica (@AlecMacGillis)
James Galbraith, University of Texas, Austin
Amity Shlaes, Calvin Coolidge Presidential Foundation (@AmityShlaes)
Bracken Hendricks, Senior Fellow, Center for American Progress

Making News Jewish Organizations in LA Lose Money in Madoff Scam 4 MIN, 29 SEC

Bernard Madoff says losses from his exclusive -- and fraudulent-- hedge fund may top $50 billion. What's being called "the biggest Ponzi scheme in history" was run in downtown Manhattan, but there are victims here in LA.  Rob Eschman is editor-in-chief of the Jewish Journal.

Rob Eshman, Jewish Journal (@Foodaism)

Main Topic Obama's Green Team and the California Connection 15 MIN, 22 SEC

All that federal money in Barack Obama's recovery plan will be funneled through state and local officials. The President-elect has reached out to California for ideas and major appointments, saying this state leads the nation on energy and the environment. Mayor Villaraigosa will have a critical role in the flow of federal money. His biggest job will be to speed up local bureaucrats whose slogan is, "saying no never gets you in trouble."  But two other Californians will play even more significant roles in the cabinet and the White House.

Felicia Marcus, State Water Resources Control Board (@CaWaterBoards)
Bill Boyarsky, LA Observed, Truthdig and Jewish Journal

Reporter's Notebook Homeboy Industries Faces Cuts in Funding 5 MIN, 34 SEC

Homeboy Industries employs 8000 young men and women who are former members of gangs all over Los Angeles County.  Created by Jesuit Father Gregory Boyle 20 years ago, Homeboy is now a nondenominational nonprofit that runs a bakery and café as well as solar energy and landscaping projects. It makes money, but not enough to be self-sustaining and now some of its funding sources are drying up, as we hear from Father Boyle.

Greg Boyle, Executive Director, Homeboy Industries

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