NAWAPA XXI is the Real Jobs Act
April 28, 2012 • 11:28PM

by Bill Roberts, on behalf of the LaRouche national candidates movement

Obama's JOBS Act makes it very clear why he does not want Glass Steagall to be passed. Not only does his JOBS Act have nothing to do with job creation, it slackens regulations on smaller companies that want to go public, opening up the potential for another Enron-type or dot.com financial bubble. This is completely consistent with the Administration's policy of blocking Glass Steagall and killing any new significant regulations that would curb financial speculation. In particular, Timothy Geithner's role in the Obama Administration has been to kill any regulatory policy that would reign in speculators all the while increasing the bailouts to the private banking sector. That's why he lies that Glass Steagall would not have prevented the financial blowout. Their policy is consistent across the board: we will save the gambling debts of Wall Street and make sure any new money available in the system goes to speculation. This is all a function of the commitment of the Obama Administration – from day one – to do the bidding of Wall Street and London's imperial fascists.

The AFL-CIO's President Trumka has some right to be angry at Obama for his JOBS Act. After all, the Obama Administration is now blatantly spitting in the face of the very labor movement that has supported him. However, Obama has not changed in principle and can not be expected to become something other than a puppet for the London policy of empire. President Trumka should immediately rescind the AFL-CIO's endorsement of the President and instead fight for the only existing policy for reviving the productive economy at this late hour: restore the Glass Steagall Act, revive the National Bank and build the North American Water and Power Alliance (NAWAPA XXI).

As outlined in a Special Report available on www.larouchepac.com, NAWAPA XXI is a plan that will create millions of jobs for Americans, not only through major construction projects in the west and far north of the continent, but also through the revitalization of the existing manufacturing base which will have to be expanded even before the first cubic yard of concrete is poured. The massive machinery and materials requirements needed for building the gigantic system of tunnels, power stations, pumping stations, canals, locks and dams of NAWAPA means millions of workers will be in hired from virtually every field of productive work, from construction trades to steelworkers, engineers, electricians and machinists.

Many Americans who are retired and depend upon social security checks or who are working but are without sufficient health care, may be wondering where they are going to get the money they need right now. With the collapse of real productive employment, money for Social Security has been shrinking too, because low wage workers don't pay in as much. Restoring the public credit of the American people is the way to ensure we can meet the obligations to the population now. Putting millions back to work at good paying jobs and multiplying the productive output of the nation, through NAWAPA XXI is the basis for meeting the needs of our people.

Study the NAWAPA XXI Special Report now, and have your city council and local labor union pass a Resolution in support of Glass Steagall and NAWAPA XXI.

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