PROPOSED T0: PRESIDENT OBAMA, U.S. SENATORS & U.S. CONGRESSIONAL REPRESENTATIVES
GET SERIOUS ABOUT JOBS!
We, the American people, are suffering through the third year of an economic decline that has caused 24 million Americans to be without jobs or underemployed and we have had enough! We need our elected representatives to focus on the urgent need for new jobs, which is the best means of generating new growth so as to eliminate budget deficits and end cutbacks that are further eroding the quality of education, transportation, energy efficiency and other important economic and infrastructural investments.
CREATE THE JOBS BANK: $300 BILLION IN LOAN GUARANTEES X 5 YEARS= $1.5 TRILLION.
We propose an Employment and Energy Mobilization Act (EEMA) to provide $300 billion/yr in federally backed loan guarantees to mobilize commercial loans for new jobs. These guarantees will support 100% of the project cost but will be secured by end user contracts to assure working capital. Processing fees will make the program self-supporting. EEMA requires an independent board of directors who will hire staff and ensure against political interference. Investment priorities are as follows:
- ENERGY: New off-shore wind farms and transmission lines, weatherization and solarization of homes and buildings, an end to foreign oil dependency resulting in renewable energy sources replacing fossil fuel power within 15 years. These investments will reduce carbon emissions and help win the fight against global warming.
- TRANSPORTATION: Support high-speed trains, coastal and inland shipping that reduce truck congestion. These investments will also reduce carbon and sulfur emissions. Loans can be secured by contracts with state departments of transportation to reduce highway spending, truck congestion costs and road damage costs.
- JOB-CREATING FINANCE: Supporting financial institutions that create new jobs, economic development and new tax revenues on the federal, state and local levels.
INVEST $1.2 TRILLION TO CLOSE THE INVESTMENT SHORTFALL OF $2.2 TRILLION NEEDED FOR MODERNIZING U.S. INFRASTRUCTURE PROJECTS.
Investing to eliminate the infrastructural shortfall will create millions of new jobs, generate new tax revenues and can be paid for either by raising taxes or by cutting $250 billion from DOD spending x 5 years =$1.2 trillion. Investment priorities are identified by the American Society of Civil Engineers (ASCE) 2009 REPORT CARD and include:
- $550 billion for rebuilding the nation’s roads and bridges
- $190 billion for transit
- $109 billion for drinking and waste water
- $ 43 billion for hazardous waste
- $ 20 billion for inland waterways
STREAMLINE U.S. APPROVALS
Approvals on major economic development projects can take years while federal agencies review and review environmental and other legal requirements. The use of digital and internet applications, plus a more collaborative approach is needed to push for a six month process. It is impossible to try and mobilize new jobs and projects when regulatory reviews can take years. New legislation is needed to make approvals faster and more objective.
INVEST IN STUDENTS, SENIORS AND VETERANS.
*Roll back all education cutbacks, invest $322 billion in repairing and rebuilding schools, hire 100,000 new teachers and extend the school day to 5.00 pm to accommodate homework, sports and educational expansion.
*Ensure sufficient revenues are generated to pay for Social Security and Medicare.
*End veterans’ unemployment by re-deploying veterans for school and workforce training while ensuring sufficient funding for disability and treatment for those wounded in service to their country.
THE RIGHT OF COLLECTIVE BARGAINING FOR ALL EMPLOYEES CANNOT BE TAKEN AWAY
Sincerely and respectfully yours,