According to our sources, the White House is getting ready to serve up a new stimulus scheme: "Son Of Stimulus."

It's a new Keynesian style concoction cloaked in the form of a "business stimulant" -- a temporary payroll tax break to stimulate hiring.

Details are still being worked out by the Obama Wall Street Whiz Kids, but here is what we know so far: 

1. Obama is in dire search of something that makes him look like he's trying to create jobs through the private sector -- due to the fact his $Gazillion dollar borrowing spree in 2009 was a colossal catastrophe. With Q-2 showing no growth, he needs to chuck up a Hail Mary to a fawning suck-up national press corps that will take his false bait. 2. He needs a venue to spend more money that looks like a tax break to business, to get it through the Republican controlled House.

But here is the folly: the economic growth we need to create jobs is in the small business sector, not the U.S. poli-economy conglomerates. And small businesses are not apt to hire more folks based on a short-term payroll tax hiatus. So it's economic snake oil and another smoke and mirrors plan from the White House. If they are serious about creating jobs, the solution is simple: give small businesses a 24 month no payroll tax holiday on any new hire they make in 2011 and a $5,000 tax incentive for every new full-time hire in the same period. That's the answer. Job growth would explode.