3) We must put Americans back to work at good paying jobs rebuilding our crumbling infrastructure: our roads, bridges, schools, homes, health centers, sewers, and other important needs.
If we fail to pass an economic stimulus package that does not accomplish all three of these goals, we will have missed out on an important opportunity to strengthen our economy.
Here is what I believe we should do.
First, I would increase the economic stimulus package from $150 billion to $175 billion.
The next thing we should do is to reduce the business tax breaks on equipment purchases by 50 percent or roughly $25 billion. These tax breaks are referred to as bonus depreciation. It has been argued that businesses need these tax breaks to buy more equipment, but the experts tell us that businesses will be buying this equipment regardless of whether these tax breaks are signed into law or not. According to Mark Zandi with Moody's, for every $1 the government provides for bonus depreciation, it would only add 27 cents to GDP. In other words, it would provide very little stimulus.
If we did these two things: increase the overall economic stimulus package by $25 billion; and cut the bonus depreciation tax break by 50 percent, that would leave us with about $50 billion.
What could we do with this $50 billion? We could complete the picture. We could put Americans to work at decent paying jobs; we could help those most in need; and we could strengthen the middle class. Those are the three pillars I believe should be included in any economic stimulus package.
Specifically, I believe we should provide $5 billion for an expansion of the Food Stamp program. The Congressional Budget Office and other experts have indicated that such an increase would be one of the most effective ways to stimulate the economy. For every $1.00 invested in the Food Stamp Program, we would add $1.73 to GDP. More importantly, these benefits would go to the Americans who have been hit the hardest in our economy.
What else could we do?
We could provide $3.62 billion in home heating assistance for senior citizens on fixed incomes, low-income families with children and persons with disabilities through the Low Income Home Energy Assistance Program (LIHEAP). The price of energy is skyrocketing. People in my State of Vermont and all over this country are paying record prices to heat their homes this winter. In the richest country on the face of the earth, we must ensure that no-one goes cold this winter.
Including Food Stamps, LIHEAP and unemployment benefits in the economic stimulus package is not only the right thing to do in terms of stimulating the economy, it is the moral thing to do. We cannot turn a blind eye to those most in need.
In addition, with unemployment rising and our infrastructure crumbling, we could address both of these concerns by providing $16 billion to repair our schools, bridges, roads, sewers, rails, ports and airports. We could also put people to work weatherizing nearly 100,000 homes; expand our health delivery system by increasing funding for Community Health Centers, and help veterans with disabilities retrofit their cars and refurbish their homes.
States, localities, economists and other experts have identified thousands of projects throughout the country that could not only use this money, but spend it quickly.
Last year, about 200,000 construction workers lost their jobs. We could and should put many of these Americans back to work through this economic stimulus package.
In addition, let me give you two examples of investments we could be making that would have a tremendous economic impact on the lives of Americans.
The proposal in congress reminds me of that phrase "re-arranging the deck chairs on the titanic." It's a band-aid, no matter what it finally looks like.
Nothing is going to change in this country until we abolish the federal reserve, take responsibility for our currency, and abolish the IRS.
If we take these steps, the middle class will grow and prosper rapidly. If we don't, everything else we do is a waste of time. A panacea. The economic equivalent of more stories about Britney.
The proposed stimulus package is a weapon of mass distraction because those who run our country and our lives know someone is running for president who will seek to accomplish those things, and give every American what he wants and deserves. A CHANCE.
by
Bob Tracey (3 articles, 0 quicklinks, 4 diaries, 41 comments)
on Wednesday, January 30, 2008 at 3:09:18 PM
President Bush has no no concern for the bottom 90% of Americans. He views corporate profits as the only indication of how the economy is doing. He feels Americans must compete in the global economy, Once translated this means work longer hours for much less pay, no benefits and no workplace rights. What Bush and his fellow free trade cheerleaders fail to realize is that once the purchasing power of the middle class is destroyed so goes the economy and those corporate profits. And corporate profits are all that matters in a corporate controlled dictatorship like the United States. Bush is now priming the pump so to speak with this upcoming stimulus package but I don't think he understands what is being done. Bush is too dumb to realize that if the common folk don't have money to spend they cant make purchases that produce corporate profits. Our elected leaders in Washington should study the great depression and tell those worthless greedy multinational corporation money donors how to run their businesses so they wont all end up like the sub prime mortgage lenders. The private sector is short sighted and even more incompetent than our government
by
Gary Denson (2 articles, 0 quicklinks, 1 diaries, 208 comments)
on Wednesday, January 30, 2008 at 5:48:10 PM
Talking to Bushes and Trees is a sign of being Crazy!
Dear Senator,
I appreciate your efforts, but I do not want food stamp programs again. And really these guys are geting richer because all of America is hooked into them by the energy we always buy from them. Whether Oil from the Middle East, Coal, or nuclear power, they get their money from us, and use the military for illegal wars. Now why should we be asking them to give us our money back? Duh! What we need to do is not give it to them in the first place, and we won't be needing their energy problems which really is all they offer us. Why ask them for anything?
If you take a look at this you will understand where we need to go, and then have the middle class people start supporting it. These people who are the big oil corporations can not stop us, if we stick together and develop our own energy resource. Energy is power, whether used to gain votes in Washington DC or wherever. When we have our own clean energy technology, they in all reality will come begging to us. Mark my word.
Bernie Sanders is what real liberal Democrats use to sound like before the corperations bought out the Democratic party and made it meaningless.He is pretty much ignored much like Dennis Kucinich.Its time we started a progressive party to combat the other 2 parties.this is the only way things will change for the better in America besides getting fair voting instead of easily corrupted machines.
by
liberalsrock (0 articles, 0 quicklinks, 0 diaries, 113 comments)
on Thursday, January 31, 2008 at 7:39:36 AM
Thank you, Senator Sanders, for saying it like it is.
A one-time rebate is not an economic stimulus to the person desperate to pay each month's bills, in my opinion. It's a momentary feel-good that might get someone to vote for a Republican. That's pretty much it. It doesn't solve the problem of most new jobs being minimum wage, no health insurance, or being the victim of predatory lenders. It doesn't change the fact that even though the calculated COLA for Social Security recipients was 2.3% this year, the housing costs in my area have risen over 100% in the past ten years. It doesn't change the fact that we don't have a living wage for all workers.
I'd love to see an economic stimulus package that is a true, ongoing aid to the poor and to the shrinking middle class. I also wonder when we'll start to tax the super-wealthy in this country at a realistic rate. Not the upper 1%, but the 400 wealthiest with whom most of the wealth in the country is concentrated and hoarded?
I had a thought yesterday, about people who are poor and hoard lots of junk in their homes, never throwing anything out. We call them crazy. But really they're doing what every creature in survival mode does. What our economy that focuses on consumerism does is just stress them out over what's out there that they can't afford.
What about the super-wealthy who hoard more than they'll ever possibly need to live on? We don't call them crazy. We call them smart, lucky, brilliant, prosperous.
As long as it looks pretty, I guess.
by
SpiritBlooms (0 articles, 0 quicklinks, 0 diaries, 55 comments)
on Thursday, January 31, 2008 at 3:08:23 PM
Where was Bernie when Edwards needed him? It was stunning to me, the lack of Senate support for the real progressive candidates in the current race. Look at Feingold denigrating Edwards right before two caucus votes. Bernie is always talking, but when it is time to draw the line and take a stand for real change, he's nowhere to be found. I was convinced by the action of Russ Feingold and the non-action of Sanders, along with the scathing treatment of Edwards from the DLC, that there is only ONE party now in America, the Corporate Party. They have assured us that the choice in November will be between two warmongers. It is way past time to throw a tantrum and demand the leadership the world is literally bleeding for. You won't find it in the Senate or under Pelosi.
by
jeannette russell (0 articles, 0 quicklinks, 0 diaries, 12 comments)
on Thursday, January 31, 2008 at 3:21:31 PM
Marx defined radical as getting to the root of the problem, and ultimately that is what has to be done. The capitalist system as we know it cannot be fixed; its inherent contradictions ultimately put it at odds with both humanity and Nature. Once you commodify Nature and the living, subduing them to the preeminence of the profit motive, you have bascially untethered yourself from the ground of Being and become an increasingly destructive force. Right now we are not only seeing how animals are routinely slaughtered by the millions for profits, but how humans are being slaughtered by close to the millions for war profits and for weapons-trades profits. It is no coincidence that slavery is also resurgent in many parts of the world.
This is totally antagonistic to the stream of evolution toward higher consciousness and enlightenment, and will not be allowed to stand much longer in the grand scheme of things.
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Mac McKinney (42 articles, 62 quicklinks, 144 diaries, 980 comments)
on Thursday, January 31, 2008 at 3:23:26 PM
Thank you so much for all you do, Senator Sanders. This article would have made a super Dem rebuttal, much better than the tepid response offered by Governor Sebelius. The MSM does nothing to inform the public about the REAL state of our Union. Governor Sebelius should have taken her very rare opportunity and air time to have done so.
by
via (0 articles, 0 quicklinks, 0 diaries, 6 comments)
on Thursday, January 31, 2008 at 3:25:52 PM
Keep making noise, Senator, even if it seems you're being ignored. We hear you. And people need to know there are some sane people in Washington so we don't lose all trust in the Federal government.
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Ann Medlock (0 articles, 0 quicklinks, 0 diaries, 5 comments)
on Thursday, January 31, 2008 at 3:27:50 PM
For keeping your eyes open and refusing to be deceived. I understand that you have been standing a lonely vigil, but I and thousands, perhaps millions, of Americans are opening our eyes as well, and we will try to get you some help on the wall.
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John Sanchez Jr. (4 articles, 0 quicklinks, 8 diaries, 1045 comments)
on Thursday, January 31, 2008 at 5:59:29 PM
Wow,a reasoned voice in a sea of madness. The storm that's hitting us now has built relentlessly for eight years and now is coming to a town near us. Bush's new reality sure looks like the same old song to me. Thanks for sharing your thoughtful vision with us and I look forward to you posting here again soon.
by
tjb (0 articles, 0 quicklinks, 0 diaries, 202 comments)
on Thursday, January 31, 2008 at 7:02:02 PM
I know your tiltled article isn't meant to be taken literally, but I'd like to say anyway, Bush didn'tforget. I am one of those who has barely enough faith that writing this to you can do anything other than cause you to sigh if even that.
I respect your record Mr. Sanders. Thank you for voting against the Patriot Act, The Military Commissions Act of 2006 and your stances on issues as you offered above paramount in your belief in being responsive to your constituants. May you continue the good fight. You either are steeped in honest hard won diligence or good at looking the part. My gut choses the former. You are few in number sir.
I am not enamored with our representatives in the least sir. In fact, I will say as a whole they are the most unresponsive, oath breaking men and women officers I can remember. They have little resemblance to an even slightly successful functioning body of government. I speak not only of the executive but the legislative branch to which you belong. The judicial is but a sad mirror of what they are taught by the actions of the other two.
Perhaps I am incorrect to say this, but it looks to me like there isn't much left of our republic. We have succeeded in becoming the bullies of the world. We are killing our dollar with yet another tax rebate that won't work this time either. I disagree with you on that sir. We're privatizing our military, then giving these private corporations immunity from prosecution under either military or civilian law. We have been spying on Americans since before 9/11. We attack (and threaten to attack) foreign countries and then allow corporations to split the spoils of cultures we claim hate us. We send our soldiers to defend us with honor, and then to honor them in death we order their coffins to be delivered home in the dead of night, not fit to be photographed. We pass laws the president refuses to enforce by signing statements. Congress does not hold him accountable to his blanket refusals to the Constitutional legislative right of supoena. It is fatiguing to me, what is it to you?
I will not take any more of your time. I have my family as do you. That in essence is why I write to you. We the people are being lied to, ignored, played like a fiddle and told to go shopping. I represent them. On their behalf, I stand firm.
It is a frightening thought is it not that perhaps it will get worse. I believe many Americans love this country sir. I believe like the wolf caught in the trap, many would gladly lose a foot to be free again. I fear for the fight that may be ahead. May we all find peace.
Sincerely yours, mikel paul
by
mikel paul (10 articles, 1 quicklinks, 7 diaries, 365 comments)
on Thursday, January 31, 2008 at 10:35:51 PM
It is good to see you, Senator Bernie Sanders, on OpEd. Welcome.
I am terribly sad about the state of the union in America. I know that this time the people cannot be blamed for all the lawlessness and destruction of the constitution that has occurred in 7 years. I have written and signed hundreds of letters to the congress people, called them, faxed them, and never once received a personal response from them. Form letters , yes. It is so sad to think that our representatives and senators have the best health care, the best retirement plans, the best that only they and the rich can afford. It is actually heartbreaking when you think of the Enron pension theft and all the times it has been repeated. With never a hand lifted to help the people who worked hard and believed their bosses.
There have been massive peaceful marches and no one gets to hear about them unless they know about Democracy Now!, Op Ed, FreeSpeechTV, Air America. It cannot be said that we the people have slacked off and not paid attention. The sad state of the union can only be laid smack on the shoulders of the lawmakers and the executive branch.
Thank you for your good work, Senator Sanders.
by
zephyr (0 articles, 0 quicklinks, 0 diaries, 53 comments)
on Friday, February 1, 2008 at 1:58:52 AM
How about the real reasons for what we have now? War, war, war, looting, crimes of the power? Stimulus might not be needed if we just... get back to our senses. And how much does the DHS spend?
by
Mark Sashine (46 articles, 19 quicklinks, 235 diaries, 3359 comments)
on Friday, February 1, 2008 at 8:20:48 AM
My political support is usually the kiss of death since I support/vote for people I think are good, moral persons concerned with the life of our constitutional republic. But Bernie is the exception. I supported him though as a California resident, I couldn't vote for him. Despite that, the citizens of VT did the right thing and now Bernie, like Dennis Kucinich, is a member of the US congress who is seriously looking out for the increasingly beleaguered middle class, those below the poverty line, and everyone far below the nation's most wealthy who couldn't care less for those of us beneath them. Keep up the good work, Bernie.
by
L. RETZACK (0 articles, 0 quicklinks, 0 diaries, 41 comments)
on Saturday, February 2, 2008 at 12:16:14 PM
Bernie Sanders is Talking about the STATE OF PEOPLE LIKE ME!
I am one of those who lost their pension when my company went abroad while I was out with a work related injury which forced me to retire early. I pay about 75% of my income for a very small and shabby apartment rent and utilities, and although I have a post graduate degree I never was able to earn enough to own a home. My daughter (who is disabled) and I live on about $1600 per month in California's Central Valley where housing used to be cheap until the real estate feeding frenzy. Now we are the forclosure capitol of the world with banks and mortgage companies bundling homes for sale to foriegn investors and more and more renters forcing rents to become even more unaffordable. (God forbid the politicos should use this housing slump to help first time homebuyers or help the retirees.) There is little or no subsidized housing available anymore and what there is, well, I wouldn't want to live there.
I consider myself one of the lucky ones because I have a little job walking and caring for 2 dogs that pays for groceries and the landlord allows me to do gardening here (as long as I pay for everything) But I'm only 64 and I worry about what I will do when I am REALLY old. It seems my government just wants my daughter and I to shut up and die.
Thanks for speaking up for old ladies like me, Bernie Sanders.
by
memary (0 articles, 0 quicklinks, 1 diaries, 70 comments)
on Saturday, February 2, 2008 at 5:24:00 PM
