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.