Let's All Take a Deep Breath

It's evident the Bush administration's $700 billion Wall St. bailout is nearly dead. But regardless of what happens with the bailout in the end, we need to have a full discussion about how to solve the root of our economic problems.

The events of the last few days prove that the era of corporate cronyism and worship of the market is over. We need a new economic model that addresses the real concerns of America's working families.

So let's all take a deep breath, and think about how to make long-term investments in the future of working people.

I'm calling for a New Era for Working Families that puts the government on the side of the people.

Tens of millions of Americans can be helped if we need to invest in programs that will help revive our economy. SEIU, along with the Change to Win labor federation, is proposing a $350 billion long-term investment in America's families:

1. A national health care plan. Estimated cost: $130 billion over two years.

2. A plan for energy independence and green job creation. Estimated cost: $20 billion over two years.

3. Improved infrastructure. Estimated cost: $22 billion over two years.

4. Tax reforms to correct a system that currently favors CEOs and business while contributing to a growing income divide. Estimated cost: $80 billion.

5. Affordable education. Estimated cost: $100 billion over two years.

And there are some other programs to help our economy that won't cost the government a dime:

1. Relief for struggling homeowners - halting foreclosures so families can keep their homes. Estimated cost: $0.

2. Reforms that ensure workers have real freedom to choose a voice at work by passing the Employee Free Choice Act. Estimated cost: $0.

3. Retirement security. Estimated cost: Negligible

Members of Congress are hearing from their constituents loud and clear - they think this bailout of Wall Street stinks. They want to know why they should hold the bag for big banks' reckless behavior - they shouldn't. We will oppose any bailout plan that doesn't address the economic crisis facing working families.

Congress should use this economic bill to act decisively to address the priorities of American families including healthcare, education, investment in American infrastructure and jobs, tax reform, and the other things we need to revive our economy.

Our proposal is in line with what the majority of Americans want right now - leadership in Washington to address the economic crisis they have been living with day in and day out.

Together, we can help launch this new era of hope for working people everywhere. Join us in support of a New Era for Working Families and help restore the middle class.

Comments

[larry278]

Detroit's so called big 3 have an inferiority complex because they & their cars are inferior to asian cars. It should be called realism, not a pathological complex.

[peterg76]

"[T]he era of corporate cronyism and worship of the market is" discredited, but hardly dead. Stealing $700000000000 from the poor to hand over to the rich - and don't think they're going to give up so easily - is hardly an example of enlightened thinking.

[dobberdoss]

Mr Stern,

I welcome your sentiments & comments on this issue, I just dont think it will happen unless we are really made to suffer as a nation. There are just too many Americans out there who are clueless unless it hurts them personally & they can actually connect the dots as to WHO is creating their pain and why.

How much will we have to lose before it dawn on us as a nation where we went wrong? Greed has been this country's motto now for so long

[therealredstateblues]

I would add an end to "free" trade and renewed investment in our manufacturing base

Manufacturing is the engine of innovation, as well as the most effective wealth generator and prosperity sharer - unlike this worship of the financial ssytem which shifts and concrentrates wealth

This would be the single greatest bang for the buck the US could do is put people back to work actually producing things.

[CulturalEngineer]

ON BACTERIA & POLITICS
• A colony of bacteria within a bound ecological system will inevitably exhaust the system supporting it without other balancing forces within that system.
• If such a bacterial colony actually had the intellect it could re-design itself to maintain a balance and so not succumb to the same natural drives which were so beneficial during one phase of development but at some point INEVITABLY become contra-survival forces.
• While it seems unlikely that bacteria will be thinking about these things, let alone take some action, it remains to be seen whether human groups will do any better.
• But human groups DO have an advantage… they have INDIVIDUALS who think! Groups do NOT think.
• Political and Financial systems are decision mechanisms for human groups.
… to be continued

But the urge to comment here is to give a nod to the problem of channelling natural human drives through new systems of motivation so as to provide a more satisfactory solution for the eternal tension between the individual and the commons.
It can be done... it just take some new paradigms.

[ksyellowdog]

how's about rejoining the AFL-CIO? united we stand, divided we fall kinda sticks more than what you're doing here. quit associating with rebel unions who raid other unions, and give locals autonomy. grassroots works better than any authoritarian structure you can concoct.

an IBEW member

[martinchill]

lofty post, indeed. birds chirping even as the tornado swirls...

the question is whether or not the military industrial entertainment complex will ever comprehend that they need the little people in order to survive. it's gone from the enron workers laughing on the phone about sticking it to californians, to new york bankers with their office belongings in a box - crying on the subway ride home last week.

are "working families" now the new "middle class"?

[Paul]

A better quality of life IS possible with higher taxes and bigger government.

Look at Europe:

Better Healthcare system
Better Educational system
Mass transit that works
35 hour work week
Six weeks Vacation

In short, a better quality of life with no structural deficits or persistance of negative balance of trade.

How do they do it?

Tax rates are about 40%, higher for upper income levels.
High taxes on gasoline & diesel.
No embedded Military-Industrial Complex.
Strong labor unions.
A government that actually delivers on what governments are supposed to provide.

So what should we do?

See above. Socialism - the way forward.