The big news to come out of Labor Day was President Obama's plan for a $50 billion government investment aimed at upgrading roads, rail, and airport runways over the next six years. This is a good idea, and on the whole, should have a net stimulative effect on the economy, though not by much. Of course, there's also zero chance that this will survive Congress; conservative Democrats will voice their "concerns" about the deficit, and Senate Republicans will showboat about spending and taxes before condemning the plan to death by filibuster.

If Republicans retake the majority, which they probably will, their first move will be to extend the Bush tax cuts:

"Well, we're going to stay focused on Election Day. But I think before that, we're going to continue to demand that this administration and this Congress make it clear that no American will see a tax increase in January of next year," Pence said during an appearance on CNBC.