The UFAA Program for Economic Recovery
1. Emergency Measures
The leading edge of anti-austerity agitation must be the 1% Wall Street Sales Tax. The social safety net and public sector must be maintained. When the reactionaries ask how this can be paid for, the answer is in every case to Make Wall Street Pay!
The cost of higher education and housing, and the resulting burden of household debt, has far surpassed the ability of the population to pay. This situation is not only putting working families on the street, it is putting the American Dream out of reach for young Americans.
2. National Banking
Alexander Hamilton, the architect of America’s First National Bank, proved that a national debt, if not excessive, is a great advantage to a modern nation. A sustained economic recovery requires a source of credit which can be neither zombie banks nor the federal budget.
The American and global economies have been devastated over decades by predatory financial speculation in Wall Street, London and elsewhere. We must lift this burden from the real economy, undo whatever damage we can, and confine speculators to a limited and tightly regulated sphere.
3. Economic Protections
The fight against free trade is as old as trade itself. In recent decades, “protectionism” has become a forbidden word never to be uttered by politician or pundit. This stranglehold must be broken, and a protective tariff put back on the agenda.
New Deal agriculture policies were based on the standard of Parity. Under this system, the US Federal Government stands between the farmer and the grain merchant, offering a guarantee to buy storable grain at the cost of production, not the mercy of Wall Street.
4. Economic Rights
The first demand in Franklin Roosevelt's planned Second Bill of Rights was “The right to a useful and remunerative job in the industries or shops or farms or mines of the nation.” Federal credit policy must be oriented first and foremost to this end.
Whether healthcare is a “right” is a meaningless abstraction. It is an urgent necessity, for lack of which many Americans suffer needlessly. Public health insurance must be expanded and made available to all Americans, regardless of age, income or health.