The Stimulus Plan is for Fat Cats

by Harry Alford

The first phase of the Wall St. Bailout was a pure hustle. The National Black Chamber of Commerce opposed it because the writing was on the wall.

They took out all protocols for small and minority business participation. Waive this and waive that – if it was about inclusion of minority business it was waived.

They said it was for “expediency” but the real reason was “avoidance.” Not one contract to a Black owned business or a dollar invested in a minority bank plus there was not one mortgage saved and the stock market is still in the tank. We were sold out on this $350 billion giveaway and I strongly suggest that we cancel the next $350 billion giveaway.

It does nothing for our economy and does not reach the streets. On the other hand, we strongly support the Stimulus Bill which is formally known by the House of Representatives as the American Recovery and Reinvestment Act.

All of the provisions for women, veteran, disabled and minority owned businesses found in the Federal Acquisition Regulations (FAR) remain intact. There are inclusion safeguards, reporting, transparency and accountability without exception. This is not a giveaway.

It is an investment into overdue projects that will create meaningful jobs and revitalize our economy. As the payrolls generated from this are recycled our national treasury will start turning in the right direction. We, the people, are involved at every level with this legislation.

According to Chairman Dave Obey (D–Wisconsin) of the House Appropriations Committee the package contains targeted efforts in:

Clean, efficient, American energy; transforming our economy with science and technology; modernizing roads, bridges, transit and waterways; education for the 21st century; tax cuts to work pay and creation of jobs; lowering healthcare costs; helping workers hurt by the economy; saving public sector jobs and protect vital services. Now, if you are against this then you don’t know Jesus. This is a noble goal and I say “Let’s go!”

But, then Chairman Obey decides to “lob a grenade” at the Republicans. In his January 15, 2009, announcement of this bill he states, “Since 2001, as worker productivity went up, 96 percent of the income growth in this country went to the wealthiest 10 percent of society.

While they were benefiting from record high worker productivity, the remaining 90 percent of Americans were struggling to sustain their standard of living.

They sustained it by borrowing…and borrowing…and borrowing, and when they couldn’t borrow anymore, the bottom fell out. This plan will strengthen the middle class, not just Wall Street CEOs and special interests in Washington.''

True that, but now is not the time to say it. History will show this and the culprits should pay for at least a generation. But don’t throw it up in their face in front of the whole world. That is not persuasion. You are in fact creating opposition. So, thus, there is a partisan fight over this badly needed legislation. Now is not the time to fight; it is time to legislate.

Just look at some of the features of this Stimulus Bill: $32 billion to transform the nation’s energy transmission, distribution, and production systems by allowing for a smarter and better grid and focusing investment in renewable technology; $16 billion to repair public housing and make key energy efficiency retrofits; $6 billion to weatherize modest-income homes; $30 billion for highway construction; $31 billion to modernize federal and other public infrastructure with investments that lead to long-term energy cost savings; $19 billion for clean water, flood control, and environmental restoration investments; $10 billion for transit and rail to reduce traffic congestion and gas consumption.

Wait, it gets better: $126.1 billion to help workers hurt by the economy via unemployment benefits, job training, increased COBRA healthcare benefits and Medicaid funding and technology; $6 billion for wireless and broadband grants to underserved communities so that they can compete via e-commerce, education and healthcare; $430 million increase in SBA 7(a) loan funding (SBA loans have dropped 57 percent compared to the previous year); $450 million in grants and loans to underserved communities and rural communities for economic development and technology growth; $20 billion for public school renovation and modernization.

There is so much more but I think you are getting the point. This is going to our neighborhoods. It will touch the common American and help uplift those who need uplifting.

It should inspire the gifted to reach the highest points also. Not only will minority and women inclusion laws be in effect but the Office of Federal Contract Compliance Programs (OFCCP) is proposed an $80 million increase in funding.

This is the watch dog for Affirmative Action and Executive Order 11246. It will reverse a trend to minimize this office which was started back in the mid-1990s and continued up to the last election. US Senate – wake up! Pass this legislation and let’s improve America. Yes we can.

Harry Alford is the co-founder, President/CEO of the National Black Chamber of Commerce, Inc. Website: www.nationalbcc.- org.


Story posted: 2/14/2009

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