Many of those 120V appliances could be recycled and re-purposed into 240V counterparts with some ease. You could make a tax incentive out of the recycling of every appliance you have in order to save on the overhead cost of switching out to the new system, as well as rewarding companies that help put forth the effort to assist in the conversion. This way, the middle class could benefit from a grid upgrade as well, as they get to keep what they invested into their appliances residentially, as well as encourage people to actively invest into the updating of the news infrastructure by getting more businesses to work on changing their power distribution.
I'm not saying updating the US grid would be easy, but it is something we ought to consider. And that many jobs added to the economy could help pull our middle class out of this recession. Linemen make pretty good money, and if we wisely recycle and reuse some of what's pre-existing, much of the overhead cost can be mitigated. Sure, it may take a couple of decades to complete, but as aged as our infrastructure is already, it is of serious concern to the U.S. public...