Dear President Obama:
The stimulus package your economic team is preparing is quite impressive. However before it is introduced, here are some out-of-the-box suggestions for your consideration. These suggestions are not very costly (in relative terms) but would make an impact on not only the economy but the psyche of America.
- Vouchers to schools for new vehicles: As written here previously ("Helping Detroit Automakers Can Benefit Us All, Here's How."), offering a voucher for a new vehicle to every school district in America would take over 100,000 new cars off dealers lots, get monies to troubled car manufacturers, assist all school-tax payers, and secondarily assist school children. Total cost = appx: $2.5 billion.
- Law enforcement: We recently read that the FBI is looking to add thousands of new employees. We have also read time and again that the FBI does not have the manpower to investigate the white collar criminals who perpetrated the latest scandals on our society as well as focus on terrorism and such. We suggest $1 billion for law enforcement efforts to investigate and apprehend white collar criminals associated with the current financial crisis. $500 million would go directly to the Department of Justice and $500 million would be in the form of grants to state and local law enforcement and administered by the Department of Justice. This money would be used for new employees and equipment. This money would create jobs, allow for the purchase of high tech products and allow all of us to know that IF there were illegalities causing this crisis, someone might be held accountable. Cost = $1 billion.
- Fully fund the National Parks System for 2009: Time and again we are told the National Parks System is in a shambles. No money for repairs. No money for summer interns or rangers. Not being sure of the exact needs, an estimate of $2 billion for immediate construction and employees would be reasonable. This would create construction jobs. Create summer jobs. Help Americans with local vacationing during these tough times. Cost = $2 billion.
- Add to local and national park land by buying foreclosed property: Put aside $2 billion (split by 438; each congressional district, DC, territories, US Parks) for grants to purchase foreclosed property adjacent to existing park land or to be used as a new park. Each congressperson could determine if there was such property available and which proposals would be best. This would help take some foreclosed properties off the market. Would create more parkland or open space for all of us. Cost = $2 billion
These proposals add up to $7.5 billion. A mere 1% of the proposed Stimulus Package. If one looks really deep at these ideas it is obvious they will create jobs, create growth, and increase our spirits.
If something more substantial is sought, a last more expensive idea is $40 billion for a new school in each congressional district (437; each congressional district, DC, territories). Again each congressperson could best determine based on speed, jobs, district need, etc. This would create construction jobs; potentially help strapped districts; and better many children in our country.
It would be a pleasure to help flush out these ideas further. Good luck to you and your team.
(This article was written and posted by BFT's Chief Economist - TJ Costello)
Put money in the hands of Americans. Let Americans spend at their own discretion instead of the government handing it over to the big corporations who abuse it. How? During the month of March offer a month of tax exempt spending on all new items sold including large ticket items such as appliances and automobiles. This would be an incredible opportunity for retail, auto manufacturers, and small businesses to rebound and get some money back into the economy. This would also give the good old citizens of the United States a break for a change!
Sincerely,
Wife & mother of two from Strawberry Plains, TN
I am a Canadian and I am concerned about how both countries (USA and Canada) are about to spend their respective Stimulus packages...
The government should list all the companies and businesses that employ the greatest number of employees. These [employers] should be [in the private sector].
What if some of the stimulus money was used to give to these employees that are 2-3 years away from their pension, a retirement package that would be enough to allow them to retire. This would encourage a large number of employees to take their pension creating an equally large number of jobs that would be filled by an eager young workforce. This workforce, coming from schools, minimum wage jobs or the unemployment lines, would immediately, feeling the security of a well paying steady job, kick-start the economy by starting a family, purchasing a home, a car and all the other things that go with the surety of a good job.
This action would be immediate. The economy would start to recover on its own. The action would also be transparent. People would see where the money is going and witness its effects...
I am not an economist but maybe someone that is an expert in this field could tweak the idea, so that it just might work.
A government "stimulus job fair"; one which is seperate from the usual job fairs on campus or state capital cities. Cubicals would be titled "education", "transportation","health", "infrastructures" etc. With schools closing & graduation plus a need for jobs this would have a great positive impetus-factor.
I for one believe that the rebate checks help those who are less fortunate. Those of us who are in this situation were looking forward to what was promised to us. When all that has been done is the rich getting even more rich and the poor getting even more poor. When do we get to see the bailout we deserve?