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Priming the Pump

It has been five years since the irresponsible speculation of our financial sector drove the U.S. economy over a cliff. Not since the wild excesses of the 1920s resulted in the Great Depression has anything as dire resulted from the machinations of our bankers and brokers.

The massive federal spending for Public Works Authority, Civilian Conservation Corps and, finally, World War II expenditures returned us to sound fiscal footing. The same formula for restoration can work with relief from the Great Recession. Funding for superstructure projects like roads, tunnels, bridges, ports and air terminals could accelerate our recovery and lay the basis for sustained prosperity and increased economic gains. Austerity is not the answer to our woes. Stimulative federal spending for future growth is an investment in our collective future.

J.R. Ellis, GMP President Emeritus, LU 39-B

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