How to dodge the recession bullet?
This is a worthy task. It should be engaged in seriously and not as a knee-jerk action. Legislators are going to spend their time and my money (paid taxes), so let's be sure the result is worthwhile.
1. Direct aid to those most hurt by the recession. Recession affects the working class by reduced income or unemployment and higher costs of basic commodities (food, shelter, clothes, transportation, medicine). Recession affects the low-income retired class in the same way. What aid? For the working class: income tax cuts, housing subsidies, residential energy subsidies, basic health care, increased unemployment benefits, help finding work. For the retired class: increased Social Security benefits, increased Medicare benefits.
2. Stimulate new domestic jobs that also benefit the country's infrastructure. Now would be a good time to fund alternate energies (e.g., solar energy as a community infrastructure, not an individual choice). It is also a good time to fund community internet access (providing a supply that is different from local telecom for-profit companies). It is a good time to develop and/or expand community public health services. It is also a good time to improve and expand Amtrak service. Be sure that all jobs are filled by American workers.
3. Stop spending money on the war in Iraq.
4. Don't begin spending money on new wars.
5. No tax cuts for corporations and the wealthy (with family incomes over $200,000). First of all these people will not suffer from a recession. Second, the trickle-down theory has never worked, so don't go there.
Written: 1-22-2008.