I'll give Professor Sachs credit on one thing and we don't agree very often, infrastructure would be one area. And his critique about the 2009 Recovery Act is dead on, the RA was badly designed and timed. It was more about the politically possible or what seemed possible at the time. And what can be passed at the fastest point, fine Professor Sachs is dead on there. Professor Sachs is also dead on that the Federal Government doesn't plan ahead and they plan for the moment. What can we do to deal with the current crisis instead of taking more of a longview and how do we prevent these crisis's from happening in the future. The American Recovery Act is a perfect example of this. But he's wrong about the American Jobs Act in this sense, this plan is much better designed and its focused on infrastructure. With the National Infrastructure Bank, we'll be able to address infrastructure needs for next year but going forward as well. Because this will be a standing organization that will be independent of the Federal Government. Where Congress and the Administration won't be able to screw it up, by adding their Pet Projects into it. An NIB will be Self Financed through the Private Sector, the NIB will prioritize a lot of our Infrastructure Projects. And then go into the Private Sector and bring in Private Investors who'll put money down. And then be able to collect off the Infrastructure Projects once they are up in running. And then the NIB would hire Private Company's to do the work and they'll be able to hire a lot of these unemployed Construction Workers. To do this work, so President Obama has taken a longview on Infrastructure Projects. I just wish he did this thirty three months ago. When he had a Democratic Congress to put this plan in place. And the President has had a long view on Energy Policy he just hasn't put a plan on the table and sent it to Congress.
Again here's another Progressive Socialist in Professor Sachs calling for an FDR New Deal to fix our economic problems. To state the obvious, Barack Obama is no FDR. He's farther to the left then President Rossevelt on Social Issues and not as far to the left as FDR on Economic Policy. They are similar on Foreign Policy though, if Jeff Sachs wants an FDR, he should've voted for Ralph Nader in 2008 and perhaps he did. And encourage Mr Nader and Dennis Kucinich and Bernie Sanders and others to run for President in 2012. We are not in an era where you have an Economic Policy based on Social Insurance. And a Welfare State provided by government financed by High Taxes on everyone, where the Federal Tax Rates are between 25-90%. To finance this Welfare State and passing a Jobs Plan based on creating all of these new Federal Agency's. To go out and hire all of these Unemployed Workers to do all of these Federal Projects, is not politically possible. And I would argue bad for the economy with all the new taxes that would come into finance this plan.
Calling the Democratic Party a "Right of Center Party" I find as a Liberal Democrat, very insulting. But I'll move on as the saying goes, if there's a will there's a way and maybe I'll take up alcohol to get through it. But seriously if they don't like the Democratic Party's politics, work to change it. And make it the Democratic Socialist Party you want or find your own party. Either step up for change or get the hell out.
Click on the link of the blog to see a video of Economist Jeffrey Sachs on the American Jobs Act