Now that the sequester is upon us, perhaps we have everyone's attention. To save Bob Woodward a year of investigative reporting, I admit upfront that this is my proposal by indelibly putting my name on it. If Gene Sperling says otherwise, he will come to regret it.
This is not just an economic imperative, but a social need as an increasing number of young adults get no chance to burnish their resumes and experience for their later lives, and near-retirement boomers have no opportunity to rebuild their nest-eggs.
The time has come for an intelligent, independently-governed, public infrastructure bank, ideally partnering with real banks that see their public purpose as a profession, focused on productive lending in the real economy.
We need a game changing infrastructure revitalization strategy for the millions of quality jobs the Administration and Congress failed to create two years ago. We need to be bolder, smarter and think like Jack Kennedy did when he challenged us to reach for the moon.
An Infrastructure Bank and other public-private partnership initiatives can spur private investment in the physical, social, health and human services, traditional and renewable energy, and mining projects necessary to create jobs.
Obama spoke yesterday about the costs of the displacement of manufacturing and textiles. Both were caused by the decades-long Reagan Revolution led divestment from America -- not the last several years.