I'd prefer the US government revise the operating practices of agencies like the SBIR[1] to work more like the Grameen foundation[2] to help entrepreneurs of all kinds establish or expand businesses (not just the tech/media companies which are YC's focus) and then put a few billion dollars into it. Extending 40 billion dollars of microcredit loans would make a lot of sense to me in any kind of economy.

1- http://www.sbir.gov

2- http://www.grameenfoundation.org/