| Home | Religion | About Us | Sports | Forums |

Search:

|| Subscribe Today ||

January 01 - January 07, 2009

Home
Religion
About Us
Sports
Forums

Featured Stories
Business & Finance
Health & fitness
Editorials & Options
Community & Local news
Classifieds & Legal Notices

 

 

Business & Finance

Black State Legislators Want Economic Bailout – 'In the Neighborhood'

by Hazel Trice Edney NNPA Editor-in-Chief WASHINGTON (NNPA) - They clearly won't have it by Christmas, but the nation's Black state legislators are now looking for what they perceive as their fair share of an economic bailout for 'the neighborhood' while Congress is doling them out to corporations.

“While we support the bail out of Wall Street, the bailout of the financial institutions, and the automobile industry, we feel very strongly that Main Street and our streets need to be bailed out as well,” says Georgia State Rep. Calvin Smyre, president of the National Black Caucus of State Legislators. “So, with that in mind, we need to finish a package whereas a check can get into the hands of the consumer and then therefore the consumer can go to the corner grocery store, the drug store, the supermarket, the various department stores and where the rubber meets the road is the consumer spending has to go up so therefore that stimulates the economy in the neighborhood sort of speak.”

The U. S. Congress has approved a $700 billion bailout for the financial industry; and a $17.4 billion loan for troubled U. S. automakers. But, how can the nation help the average citizen who is out of work or living from pay-check to pay-check, one missed rent from homelessness? Smyre and state legislators have a remedy. “The only way to do that is to create a stimulus program whereas the American consumer is involved. Those other bailouts are rightfully so. But, they don’t help create jobs. They help save jobs. So, unemployment is a key factor.”

Facing a gamut of dire needs on the state level, Smyre and his 125 fellow representatives from 42 states met in Washington earlier this month for the Caucus’ 32nd Annual Legislative Conference. They met with members of the Obama transition team with hopes of bringing home federal dollars to offset serious shortages that are often used to deal with social programs and other crucial needs that are now exacerbated by the failing economy. Obama has set a goal to create at least three million jobs in the first two years of his administration, which starts Jan. 20. Meanwhile, states are suffering, Smyre says. “There are 43 out of 50 states with some sort of budget shortfall. With Georgia alone, we’ve got a $2 billion shortfall. So, with that in mind, we just want to be partners with our federal government to be able to assist us in the downturn in our economy,” Smyre says.

Smyre was on his way to a policy meeting dealing with the Second Chance Act to help lower the prison recidivism rate. There would also be discussions on the high school drop out rates. “In Georgia alone there were 60,000 drop outs in ’07,”
 

More Business & Finance

This Year’s Resolution:
Manage Your Credit
Read Now!
Who Will Get the 2,500 Million
New Jobs? Read Now!
‘Cadillac Records’: Worth a See"
Read Now!
Economic Bailout
Read Now!
Consumer Confidence Rises
Over Optimism About the Future
Read Now!
 



home depot
COPYRIGHT © 1963 - 2008 The Pensacola Voice. All rights reserved.