In 2008 Congress approved a $700 Billion dollar bailout package as a result of The Great Recession. Since then, $29 Trillion US Dollars have been created by the Federal Reserve to ‘rescue’ the banks on Wall Street and re-secure the assets of the wealthiest Americans. This money was ‘created’ by the Federal Reserve solely for this purpose. The American people demand a significant investment now be made in rescuing Main Streets throughout the country, many which have been decimated by those corporations now receiving Federal Government assistance. For 40 years, most American’s real wages have been falling. Very few workers can support a family on a single income. Many cannot support their families adequately even on two incomes. Gains from exploiting overseas low wage labor have raised corporate profits and the incomes of the richest Americans while forcing wages lower and lower – even as the productivity of American workers reach new highs. We must harness this productivity to better our entire nation. In the greed motivated decline we currently face, it is up to our country’s people to call on the Federal Government to invest in rebuilding our own public economy. Business invests wherever money will earn the highest return. Over the past four decades, that has meant low wage overseas job sourcing and jobless financial bubbles at home. Only the American people have a natural commitment to investing here at home. We call for the immediate investment in America to take several different forms all at the same time to get our country working again: We must invest in renewing America’s crumbling infrastructure – from bridges to water systems to overwhelmed courts – to give our economy the stable, productive foundation that it needs, and also to provide good jobs to millions of people. We must invest in converting our energy industry away from fossil fuels, because this will make our economy massively more efficient and also provide millions more jobs. We must invest in industry, making long-term entrepreneurial investments in brand new high value industries. This is a very normal economic development model that has been followed by the most successful economies (including our own!) over the past 150 years. We will invest in pre-existing and new corporations. Instead of a spend-and-tax mechanism, we will use an invest-and-profit mechanism. The companies we create or support will be private, but the American people will retain an ownership stake/ claim on future profits. We must create a Federal Job Guarantee program with a Minimum Sustainable Wage of $15/hour plus benefits for every willing American worker, providing dignity, income, skills and work to millions of Americans who, through no fault of their own, have watched their cities and towns become de-industrialized. It is solely in the hands of our Federal Government to approve and fund these economic programs that are essential to America’s future. Only the Federal Government has both the ability and responsibility to create the funds required to undertake this nationwide effort, and every day that action is not taken is a day wasted. The constitution of the United States calls on the Congress to ‘protect the General Welfare’ of the nation. We call on the Federal Government to recommit itself to that purpose. Learn more at raisethebottomline.org/vision/
Posted on: Sun, 28 Dec 2014 23:04:16 +0000
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