Time for Obama’s CCC?

With the Republican takeover of the House, getting any positive motion on anything the next two years will be impossible. Republicans are a worse case scenario in terms of significant recovery from the deepening recession…

Maybe it is time for some bold strokes. The US has major infrastructure problems, with roads, bridges, and culverts crumbling. Obama has consistently failed to utilize the apparatus of the Executive to drive positive change.

Maybe it’s time to start.

[spirit.jpg]Obama Should Create Jobs by Executive Order

On May 6, 1935, with the country in the midst of the Great Depression and with indirect efforts to create jobs having not moved the needle of unemployment rates, President Franklin D. Roosevelt signed Executive Order 7034 and appropriated $4.8 billion for the Works Progress Administration (WPA). The WPA put millions of Americans to work constructing buildings, painting murals to decorate them and performing plays for audiences that had never before seen a dramatic production. In the process, many were saved from poverty and starvation and the economy began to revive.

Although Congress, as part of the New Deal, had appropriated money specifically for relief, FDR decided to use the money for a direct jobs program by issuing a presidential executive order. This executive order described the agencies to be involved in the program, its structure and procedure for application and allocation of jobs.

The WPA was quickly implemented. By March 1936, 3.4 million people were employed and an average of 2.3 million people worked monthly until the program ended in June 1943. During its existence, the WPA employed more than 8,500,000 different persons on 1,410,000 individual projects and spent about $11 billion. The average yearly salary was $1,100, a living wage at the time. During its eight-year history, the WPA built 651,087 miles of highways, roads and streets. It constructed, repaired or improved 124,031 bridges, 125,110 public buildings, 8,192 parks and 853 airport landing fields. Continue reading

Bank None… Move Yo’ Money!

The “move your money” movement gets noticed

Hat Tip – Walletpop

Fat Cat Bankers Stealing Your Money With Hidden Fees

An online media maven is urging Americans to switch banks, and she wants her crusade to go viral. On the Huffington Post website, founder Arianna Huffington introduces what she calls the “move your money” campaign. The idea is to get Americans — all Americans — to close their accounts at big banks and transplant their personal finances to smaller banks. The budding cause has its own web site, moveyourmoney.info, including a link where you can plug in your zip code and find a list of smaller banks.

Huffington singles out the Big Four banks (that would be Bank of America, Citi, JP Morgan Chase and Wells Fargo) for particular ire, pointing out that they’ve curbed business lending even since receiving TARP money. She urges Americans to park their money at community banks instead of these TARP-receiving behemoths.

Since the Congress doesn’t have the political courage to make these fat cat banks walk a straight line, after a series of laws the last 10 years which have allowed unprecedented consolidation and favorable rules vastly tipping credit and banking laws in the banking industry’s favor to the detriment of the public – then it’s up to the American consumer.

Smaller, local banks are hoping to gain your business, and are far more likely to make loans within their local service area, provide services – and not to attempt to derive revenue from outlandish and sometimes flagrantly criminal fees by tricking consumers.  Losing customers, unlike with the big banks, has consequence.

I can’t prove it statistically, as I’ve not seen any figures supporting it – but I have to beieve the trust level between American Consumers and their banks has to be at it’s lowest point since the Great Depression.

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