JOBS CRISIS NEEDS WORLD WAR II ECONOMIC MOBILIZATION

Posted on: July 8th, 2011 by Stas

CONTACT: Stas Margaronis, publisher Rebuild The United States via email at stas@rbtus.com.

The dismal jobs report saying 18,000 jobs were created in June with 13 million Americans out of work points to an inability by Congress and President Obama to tackle the long-term unemployment crisis, which needs a World War II type mobilization that created 18.5 million jobs between 1939-1944 and ended the Great Depression.
Rebuild the United States proposes a Jobs Contract (www.rbtus.com ) committing Congress to support a World War II economic mobilization to create 20 million new, well-paying jobs by making a $3 trillion investment over the next 5 years to support new energy saving industries and repair the nation’s collapsing infrastructure:

* Allocate $1.5 trillion for infrastructure investments for roads, bridges, inland waterways and public school reconstruction as identified by the American Society of Civil Engineers. The investment needs to be paid for by either a tax increase or cutting the U.S. Defense budget by $250 billion x 6 years =$1.5 trillion.

* $1.5 trillion in federal loan guarantees for energy saving investments that includes off-shore wind farms, high speed trains and relieving truck and road congestion by building more fuel-efficient ships, tugs and barges for coastal and inland transportation. The guarantees are insurance for banks and other financial institutions to make energy and job creating investments and can be self-financing through processing fees paid by applicants.

The U.S. High Speed Rail Association says that a $600 billion investment in a national high speed network will create as many as 10 million American jobs. In California, the proposed high speed rail is projected to create 600,000 construction jobs, but politics is delaying construction. The investment in high speed rail is opposed by some governors and members of Congress who say it is as a waste of taxpayer money. In China construction of a national high speed rail system is under way and is expected to transform that nation’s economy.

Between 1939-1944, the United States created 18.5 million jobs. With more than twice the population in 2011, that is like creating 37 millions jobs today. Success was achieved by committing billions of dollars to mobilize American workers to build ships, tanks and aircraft and win World War II.

Leave a Reply