infrastructure banking will stimulate infrastructure investment; add jobs

Making America Competitive in a Global Economy

Our economy needs another jolt of investment stimulus to increase jobs and our infrastructure is the perfect economic issue to invest in unless you are part of the paralysis of Washington where the goal is not America as a whole in rebuilding our economic sector, but the bi partisan representation of the conservative caucus who have since 2009 made it impossible to create any sort of workable goals, whose whole agenda has not been to work towards goals that are good for the American worker or creating the platforms needed to launch the 21st century economic playing fields for America in these 21st century global markets. No these conservatives who espouse economic stimulus for the very wealthy, multinational corporations and their small business umbrella companies only policy is what helped get us in this mess to begin with; procuring more tax cuts for the very wealthy draped behind the narrative of small business and bottle up, stop, and delay any initiative that will have President Obama not reelected in 2012.

OK, we get it, conservative America does not think that what is good for the middle class is good for the constituents that support their political base. Why else would they keep our nation from succeeding when their main goal seems to be in making sure the economic environment will be so bad that President Obama will be a one term president? We need investments to create new economic opportunities. E.J Dionne writes yesterday in the Washington Post, that the Democrats have started to float ideas that will offer more tax breaks for business so they may hire more workers... They have floated the idea of an infrastructure bank (brought up numerous times by me in previous blogs) to help invest in our countries rebuilding of our grossly inadequate and dangerous infrastructure built for our 20th century successes, but which is far inadequate and is not capable of making us a world economic leader in the 21st century. Senators John Kerry (D-MA), Kay Bailey Hutchison (R-TX), Lindsey Graham (R-SC), and Mark Warner (D-VA) have proposed an American Infrastructure Financing Authority to do just that. We are entering an era which demands that we reduce public debt-taking while still laying freight rail, building water treatment plants, and generating domestic sources of energy. This bipartisan American Authority would shepherd private capital into these much-needed job producing projects was pointed out by Michael Likosky in Huff Politics 9 June 2011.

There is over a trillion dollars on the sidelines in the private sector alone we could tap into along with the trillion dollars in the banks since the middle class bailed out the banks with TARP before Obama became President; remember it was President Bush’s administration that spear headed that bail-out that conservatives seem to want to give Obama all the credit for. Today, enormous sums of private equity sit on the sidelines of our recovery. Likosky article reminded us that the TARP banks bear a responsibility to match this money with existing needs at home. Plenty of profitable projects exist. America is a fairly stable place, even if we have our jitters. Asian markets are overheating. The Eurozone faces uncertainty. Gulf States are immersed in transitions. The US is increasingly the jurisdiction of opportunity (Huff-Politics, Michael Likosky, 9 June 2011).

We could easily take 20 percent from each sector put 400 billion dollars in the infrastructure bank, market to retirement funds around the country and investors in the world and we could have between 800 billion and one trillion dollars available in short order to invest in America. There is only one problem though and that is the politics of paralysis. Our middle class constituencies must understand that the elections that brought in conservative politicians in our state and federal governments had a mandate to grow the economy. Create jobs and economic investments were the mantra from the right.

There are 32 states controlled by the executive and or legislative Republican Party today. After less than a year in office these are the following stimulus programs I believe the conservatives can go back to the unemployed middle class when they go for re-election: they have made it harder for students, elderly, minorities and poor to vote when there is not one incidence of photo i.d. violation recorded, they have shortened the early election periods, they keep legislating over the abortion issue; gay marriage; English as the official language, and strip unions of any power so private and public workers do not have an united voice in state and federal politics. These are very relevant and important economic issues to have undertaken. The best job stimulus program I have seen though is when Governor Scott of Florida gave back a couple of billion dollars to the Federal Government to create the beginning of our light rail system for the state. That cost us 20,000 plus jobs during the next five- ten years and tens time that for the future decades. Middle class this was done for your own good; Governor Scott didn’t think the previous governor or legislative members made the right decisions to use some of the monies you had already paid in taxes to grow our 21st century economy.

This blog is supposed to be about stimulating the country for economic growth in the 21st century by reinvesting in our infrastructure systems. Middle class; we cannot get out of the blocks, no we cannot even get on the track if we continue to vote for leaders who have no vision or relationship with working people economically. It is as if they do not believe the middle class deserves to have sustainable, worthy and important jobs now or in the 21st century. You should be about as concerned as you have ever been politically and contact your local, state and federal representatives today and demand they work for you. Paralysis in American politics must end we deserve better.

JND

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