Barney Frank rocks. It is good to hear a real progressive as the unemployment rate goes up and no one in the adminstration seems to have any new ideas other than "wait it out." Let's get the f.. out if Iraq and use the money to create jobs:
Frank said the administration should remove troops from Iraq in six months instead of the end of 2011 and redirect the savings to create jobs.
"The thing to do now would be to withdraw the tens of billions we’re putting into Iraq and reprogram that into job creation efforts in the U.S.," Frank said.
Bloomberg
And another good idea from Barney, after the fold.
His second good idea? Use the TARP money paid back to help people losing homes:
Funds from the $700 billion Troubled Asset Relief Program should be loaned to Americans without jobs and at risk of losing their homes, Frank said today in a telephone interview. Frank has said the program will be extended beyond its December expiration for foreclosure relief and to help community banks.
"We have a new wave of foreclosures coming not from people who got loans that they shouldn’t have gotten, but people who got loans that they clearly could afford but prolonged unemployment has put them in a tough situation," said Frank, a Massachusetts Democrat.
Bloomberg
We can get the money to turn this around. We just need the will to rebuild America.
Leave Iraq, spend money at home.
A second economic stimulus package is something "people are going to be looking at," Frank said.
Bloomberg
10% official unemployment is unacceptable.