I've been thinking about what we might do as a nation with a $700 billion commitment, if we decide not to bailout Wall Street. Think of the positive impact on our credit markets, the world's view of us, if we were to invest in our future rather than cleaning up our past. If the quagmire in Washington is primariliy about restoring confidence and trust, would this work? What are your ideas? Please post as comments your suggests for the appropriate use of $700 billion in borrowed funds.
Here's my suggestion:
1) $200 billion into a renewables trust fund. The only thing the money can be used for is for R&D and opeartion of non-fossil fuel renewal-energy projects. Rustbucket America - the auto industry, would retool to meet the demand.
2) $200 billion -- To fix America's crumbling road, bridge and **rail** infrastructure and build out a high-speed interurban rail network in congested auto corridors. The construction industry would boom!
3) $200 billion -- To invest in Teach for America, building new schools and retraining teachers to be able to teach for the 21st century.
4) $100 billion -- To create a system of stipends for health care for America's poor - conditioned on reaching a national consensus on a bifurcated health-care system -- allow the private system to continue to operate, but end private health insurance and establish a single-payer system, nationally administered. The same companies that now offer health insurance -- the Aetna's, the BC/BS's of the world, could become contractors to the government running all the paperwork. But it would be coordinated.
SENDING EMAIL TO U.S. Rep. John W. Olver: The correct address is:
-- bill densmore / williamstown, mass.