At this moment, our nation is facing a crisis of our very existence. I am running for Congress to offer you, the voter, solutions to this onrushing disaster that can rescue our nation. That solution is to return this nation to its founding principles, to return to the American System of physical economy. In 1994 I was first introduced to these ideas by the Lyndon LaRouche organization. I have now been fighting for these critical policies and a return to our nation’s founding principles with American System economist Mr. LaRouche and his movement for the past 15 years. I will outline the American System in a moment, but first…
When Barack Obama was elected, many Americans were hoping for serious change from the previous eight years of suffering under George Bush; instead, we have been given more of the same: more war, more unconstitutional bailouts, more home foreclosures, more job losses. Obama, now, has been following, not changing the disastrous and treasonous policies of the Bush and Cheney years. That is - bailing out the banking system to the tune of trillions of dollars, and deliberately failing to address the crisis of jobs and the economy. As a result, we have skyrocketing unemployment, massive increases in foreclosures, and a take down of our machine tool sector, exemplified by the collapse of the auto industry in which I am employed.
RETURN TO THE AMERICAN SYSTEM
If we are to revive our nation, we must return to our historic mission as a nation of scientific and technological progress. The essence of our existence as a republic is our promotion of the creative powers of mind for all our citizenry and its realization in the never ending advancement of the standard of living and level of profound cultural achievement. For the past fifteen years, I have been an advocate of the American System of physical economy, as practiced by Treasury Secretary Alexander Hamilton, Whig leader Henry Clay, President Abraham Lincoln, who spent his formative years in Indiana; and Presidents Franklin Roosevelt, and John Kennedy. Most recently this bi-partisan system of economy has been revived and developed by Mr. Lyndon LaRouche who, as I said, introduced and inspired me to become active in the revival of our American System of physical economy.
Today, this perspective is of the utmost urgency. Its basic components include:
1. Bankruptcy reorganization of the major Wall Street banks and brokerage firms and the cancellation of the trillions of dollars of speculative paper, derivatives, and other Devalued securities that have been polluting our banking system. This will require writing off the now-devalued financial derivatives, and eliminating, once and for all, the power of Wall Street in formulating economic policy. In addition, we will have to implement a national and global Glass-Steagall reform that will prevent the banks from ever again speculating in useless paper products such as derivatives. This system worked well from 1933 to 1998, when it was repealed by Larry Summers, Obama’s current economic advisor.
2. Creation of a federal credit system, as per Article 1 of the Constitution, and issuing lines of credit to cities and states to build federal infrastructure programs, such as high speed rail, nuclear power, bridge repairs, water projects, etc. These programs will fund local contractors and businesses to immediately participate in the programs.
3. Creation of a federal program modeled on the Civilian Conservation Corps of Roosevelt, which can recruit millions of young, unemployed workers and put them into training and immediate placement in the infrastructure projects.
