Populist Caucus Members Urge Obama to Include Infrastructure Bank in Job Creation Plan

Washington, DC - Today, Congressman Bruce Braley (D-Iowa) called on President Obama to invest in our nation's infrastructure by developing a National Infrastructure Bank.  In a letter to the President, Rep. Braley urged the President to include the development of an Infrastructure Bank as part of his job creation plan he will be unveiling next week.  Four other members of the Populist Caucus signed the letter to the President.  The Populist Caucus has been advocating for the development of a National Infrastructure Bank for over a year and a half.  In February 2010, the Caucus endorsed legislation introduced by Vice Chair Rosa DeLauro to create a National Infrastructure Bank.

"A National Infrastructure Bank would create jobs and improve our country's aging infrastructure" said Rep. Braley.  "This plan would leverage both public and private dollars to improve our roads, bridges, tunnels and watersystems, creating jobs all across the country.  The plan also has a diverse coalition of support that includes both the business and labor communities.  It makes sense for the President to include this public-private partnership as part of his job creation plan."

A copy of the letter, which was signed by Rep. Rosa DeLauro, Rep. John Yarmuth, Rep. Mazie Hirono and Rep. Peter Welch, is pasted below and available here: http://go.usa.gov/0YF

End wars, spending and reintroduce sound money

ANKENY, Iowa- The Ron Paul 2012 Presidential Campaign released the following statement from National Campaign Chairman Jesse Benton in response to the U.S. Department of Labor's August 2011 Employment Situation Summary:

"The August national unemployment rate of 9.1 percent is another unfortunate chapter in the Obama administration's almost superhuman mishandling of the economy.  Total nonfarm employment was unchanged, with zero jobs created.  The number of involuntary part-time workers is up, and the number of those marginally attached to the workforce is up.

"Six million workers, 42.9 percent of total unemployed persons, have been jobless 27 weeks or longer - a frightening proposition considering that mortgage, rent, food and back-to-school bills may go unpaid.  The most recent four-week moving average of new unemployment claims, favored for being a less volatile indicator of our jobs picture, is a frowning 410,250 - also cause for dismay.

"Indeed, much more than these data hangs in the balance.  Americans are enduring painful long-term joblessness.  They're witnessing their savings disappear due to lost income.  They're seeing their personal debt rise due to lost income.   And they gaze despairingly upon their retirement plans as these arrangements are tabled or upended entirely.

"We've been told our economic situation would get worse before it gets better, yet circumstances have remained near to their utmost worst for nearly three years. 

"We've been told that help was on the way, yet taxpayer-derived aid was granted to pet causes and favored political allies.  Too often, bailouts were targeted to the President's corporate and financial sector allies, a policy similar to that of tossing life preservers to those partying on yachts.

"Americans have had enough.

"It's high time that the President and his Washington establishment allies - those in both parties - 'man up' and face the responsibility to enact authentic change.

"First, America must put an end to the unconstitutional, undeclared wars that are nothing more than destructive conflicts having an unclear connection to U.S. national security.  And we should stop putting our war-weary armed services men and women in danger by being the world's police force and dispense with state building while there are pressing needs at home. 

"Ron Paul has called for an authentic stimulus that communities across America will find economically and affectionately stimulating: the return to America of 305,000 of their sons, daughters, husbands and wives who are deployed overseas. 

"Dr. Paul says time and again that these men and women's absence from the U.S., their deployments by international organizations such as N.A.T.O. and the United Nations, and their involvement in unconstitutional, undeclared wars puts America at risk. 

"America's heroes should finally return, reunite with their loved ones in the vicinity of U.S. bases - many of which face closure, as foreign bases thrive - and they can spend, save or invest their pay right here in America.

"A return to the U.S. of service men and women and their equipment just months ago would mean that Vermont would have possessed the needed Blackhawk helicopters and personnel to adequately respond to Hurricane Irene's destruction.  Instead, Vermont was required to borrow helicopters from Illinois and New Hampshire.

"In the wake of Hurricane Irene, there's a national conversation about the constitutionality, efficacy and efficiency of the Federal Emergency Management Agency (FEMA) happening.  Yet, none of Ron Paul's Republican primary competitors have raised the issue that, since the U.S. reportedly spends more than $500 billion on overseas adventures, just seven days' worth of U.S global militarism would pay for Hurricane Irene response.

"Second, President Obama and his Washington enablers of both parties must end the appalling practice of overspending and borrowing.  American households are becoming poorer as the economic doldrums continue, however Washington enjoys a kind of golden age as it grows and promotes its relevance in every facet of life. 

"The Obama administration offers empty promises on a jobs fix despite the economic reality that government does not create jobs, and in lockstep those in government garner little criticism as few in the media hold Washingtonians' feet to the fire.   This selective examination of the facts, too, must end.

"Third, the U.S. must avoid the disastrous boom and bust cycles that promote irresponsible spending, investing, borrowing and lending and this can only be done by returning to a sound money system. 

"The Federal Reserve should undergo a complete and thorough audit, and currency competition should be introduced by decriminalizing the use of gold and silver as legal tender.  The final aim would be to end the Fed, which rewards the wealthy few while punishing and injuring working class Americans.

"The numbers and anecdotal evidence of a failed jobs picture speak for themselves.  They are a glaring argument for abandoning the failed Big Government, discredited Keynesian response to the national crisis all but those in Washington are experiencing.

"We do not need another speech or prime-time lecture for that matter to tell us what we know: Washington has failed and it is time for new leadership. 

"Ron Paul has championed the same constitutionally-limited government, noninterventionist foreign policy and sound money arguments for more than 30 years. 

"Dr. Paul wisely predicted the economic crisis and foresaw that it would fall hardest on the hardworking and most vulnerable.  The issues now match the candidate, which is why his message is resonating with more voters as the primary campaign cycle advances." 

DATE DAY/TIME PLACE

09-24-11 Sat. 8am - 12pm CASI 1035 W. Kimberly Rd., Davenport IA

10-05-11 Wed. 9am - 12pm American Legion Hall, Bluegrass, IA

10-06-11 Thur. 8am - 1pm CASI 1035 W. Kimberly Rd., Davenport IA

10-19-11 Wed. 3pm - 6pm Bettendorf Presbyterian Church, 1200 Middle Rd., Bettendorf , IA

10/24/11 Mon. 11am - 1pm Heritage Woods of Moline, 5500 46th Ave. Dr. Moline, Il

10-27-11 Thur. 8am - 12 CASI 1035 W. Kimberly Rd., Davenport IA

Those receiving a flu shot should wear loose-fitting clothing, preferably short sleeves. Medicare recipients must bring their Medicare card/Medicare HMO card to the clinic. For those without Medicare the flu vaccine cost is $35 with a $5 discount at the door if you pay by cash or check at that time. No Credit Cards accepted. Pneumonia vaccine is $40.

As the nation prepares to honor America's workers this weekend, I wanted to share a report I released today on the decline of America's middle class and its long-term consequences for our economy.  As you'll see in the report, the problems plaguing the middle class and the broader economy were not brought on just by this recession, but rather through a series of systematic policy decisions put into place over the past 40 years.  I believe that rebuilding the middle class needs to be the primary focus of the Congress and that it can only be done by reversing these policy choices.

All the talk in Washington about deficits and spending cuts ignores one simple truth: there will be no sustainable economic recovery without the recovery of the American middle class.  Without good-paying jobs with reliable benefits, families will continue to fall behind, and the economy will lag as consumers struggle to survive on shrinking budgets.

As Congress finally turns its focus to how to create jobs and rebuild our economy, we must understand that as the middle class goes, so goes our economy.

Today's report follows a series of Health, Education, Labor and Pensions Committee hearings I've convened to examine the state of the middle class.  We've solicited input from economists, the business community, and everyday Americans struggling to maintain a middle class lifestyle.  In Iowa, members of my staff have been visiting all 99 counties to gather testimony and insights into the challenges facing middle class families, and I have followed up by holding forums this August in Newton, Mason City, Cedar Rapids, and Council Bluffs.

To read my report, entitled "Saving the American Dream: The Past, Present, and Uncertain Future of America's Middle Class," and learn more about my HELP Committee hearings and my forums in Iowa, click here:  http://harkin.senate.gov/help/middleclass.cfm

The report shows that the middle class is facing stagnant wages while household costs continue to rise:

• Average hourly wages declined by 1% from 1970 to 2009, while home prices have increased 97%, gas prices by 18%, health costs by 50%, and public college by 80% after adjusting both wages and costs for inflation.
• The average family of four needs an annual income of $68,000/year just to cover basic costs, but in 2010, half of all jobs paid less than $33,840, and 9 of the 10 fastest-growing sectors in the American economy pay less than $35,000/year on average

While there is no silver bullet to repair the damage done to the middle class by 40 years of poor policy choices, I believe there are several steps the federal government should take to create jobs in the short term and restore our middle class and economic vitality in the long term:

• Help 25 million unemployed and underemployed Americans get good jobs and become taxpayers again by investing in education, innovation, and a national program to rebuild our nation's schools, highways, bridges, and water infrastructure.
• Restore balance to the tax code by removing the tax benefits received by the very wealthy and large corporations from the 2001 and 2003 tax bills.
• Remove the provisions in the tax code that encourage American companies shifting jobs overseas.
• Raise and index the minimum wage to improve wage standards throughout the economy and ensure working people aren't left out when our economy grows.
• Give workers the same rights as corporate CEOs to negotiate their salaries and benefits from a position of strength, not weakness.
• Update the federal laws governing the pension system so that they can once again provide the basis for a secure retirement.