We Need A Real Economic Recovery Act

One of the more promising developments coming out of the sweeping Democratic victory is talk of a real economic/stimulus bill to move the country in the right direction. Not the silly $300 we got, but a real plan to move the economy in the right direction and rebuild from the bottom up. Banks need to lend, but it won't matter if people aren't spending, we are being kicked out of our homes and no real job to support future earnings. Rebuilding a functioning middle class will take the sort of investment that the New Deal was good at. And it can move us in the right direction for our foreign policy. Per Political Affairs.net (great site) a bill taking shape would include: * Investment in alternative energy development and new green collar jobs; * An extension of unemployment benefits; * Expansion of the Food Stamp program; * Re-negotiation of mortgage terms for those about to lose their homes; * An increase in the Community Economic Development discretionary budget to $250 million a year so that community economic development corporations (CDCs) can create more business and employment opportunities in economically distressed neighborhoods and communities that have been hit hardest by the sub-prime loan crisis; and most important * A major economic stimulus package that would provide $250 billion in direct assistance to states and local governments for infrastructure development. This kind of direct federal spending for community and economic development would be far more productive than rebate checks. It will create jobs and crucial investments where it counts and is needed. This is simple and just makes sense. Green Jobs are the future, and the one place America still has capacity to have a competitive advantage. What I mean is that we already have the infrastructure, ability to quickly educate, and the skilled work force to quickly move into being a leader in developing the Green technology of the future. Other countries are moving to take the mantle, but if we move quickly we can be the center for the coming Green Revolution. This will of course also take away are reasons for continual war in the Middle East (we will find made up reasons for war in other regions, but that is another post). An extension of unemployment, food support and mortgage refinancing gives American the bridge to just make it and allows our economy to keep functioning. State and local governments are struggling, giving direct support can help all the loss in revenue and foster job growth. As will the very direct Community Economic Development. There is no reason this recession become a depression if the Dems act out of their nature and go bold. We need this bill if not more to use this downturn to push America in the right direction for the future. RSS