Proposal update for Obama

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  1. Full ‘payroll tax holiday’ where the Treasury makes all payments for employees and employers.
    • Restores incomes to assist those still working to make their payments, keep their homes, and end the credit crisis.
    • Reduces corporate cost structure to help contain prices as demand increases.
  2. $300 billion in revenue sharing for the States on a per capita basis with no strings attached.
    • Enables States to fund operations.
    • Enables States fund infrastructure projects.
  3. Fund an $8/hr. National Service job for anyone willing and able to work that includes full health care coverage.
    • Addresses unemployment from the ‘bottom up’ rather than the ‘top down’ the way other measures do.
    • Provides for a far superior price anchor than the current practice of using unemployment for that purpose.
  4. Eliminate the need for the Fed to demand collateral from member banks when it lends to them.
    • Demanding collateral is redundant and obstructive to lending.
    • Allows the NY Fed to hit its assigned fed funds target.
  5. Take action to immediately reduce crude oil and crude product consumption.

(Details available on request.)