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T—— — National
<br /> Infrastructure
<br /> I Bank
<br /> Economic Recovery Act
<br /> 4,414,
<br /> till-. 1
<br /> New Public Corporation for Essential Construction
<br /> 11.
<br /> -1.",gr. + Millions of
<br /> mrrfF, 1 IIIIIIIIiu
<br /> MEI1111 Othernfrastructure new jobs
<br /> ��� �`,`� l l ll
<br /> t`" created
<br /> Energy plants Bridges,highways Railroads Dams&reservoirs Schools&
<br /> hospitals
<br /> Congressional Legislative Initiatives
<br /> '4641111IN
<br /> roductive Industries in the Private Sector
<br /> \• Other Millions of
<br /> III. —1 Productive new jobs
<br /> `. industry created
<br /> Machine tools Construction Forestry Farms Auto
<br /> A Table of Organization for U.S. Economic Recovery
<br /> A top-down approach is required to provide credit on the scale down of the auto/machine-tool sector, by creating a Federal
<br /> needed to repair the decayed U.S.infrastructure,and to create public corporation to assume control of,and operate--directly,
<br /> the expansion of the physical economic base in the process. or by contract--the discarded and unused plant-and-equipment
<br /> capacity of the automobile/auto-supply sector. The entity was
<br /> I. National Infrastructure Bank called the Federal Infrastructure Plants Corporation, and
<br /> At the top of the entire effort must be a Federal credit would also utilize unused facilities in other sectors such as mil-
<br /> mechanism, shown on the schematic here as the National itary bases,shipyards,fabricating plants,and so on.
<br /> Infrastructure Bank. This facility can be established under In turn,this capacity could be retooled to produce,along with
<br /> the powers of Congress, authorizing it to create debt for the remaining corporate manufacturing, the array of components
<br /> sole purpose of funding approved infrastructure projects--the necessary to refurbish decaying infrastructure.Among the pre-
<br /> direct costs, the inputs, and all functions related to accom- cedents,is the famous period of World War II,when auto plants
<br /> plishing the job.Thus it operates as a capital source, outside were converted to tank,truck,and aircraft assembly lines.
<br /> the demands and constraints of the Federal operating budg- The second tier of the Economic Recovery diagram illus-
<br /> et. Loans can be made at the rate of 1-2% interest, and the trates that if the programs for upgrading energy transmission
<br /> appropriate long-term conditions will apply. and generation, especially nuclear power,bridges, highways,
<br /> There are many precedents for this kind of long-term,low- and railroads were built, along with waterworks, and so-
<br /> interest credit function, on the part of the Federal govern- called soft infrastructure, including schools and hospitals,
<br /> ment.During the FDR years,a massive amount of hard infra- there would be a generation of millions of new jobs, on the
<br /> structure--bridges, schools, water systems, and the like--was projects and in manufacturing industries.
<br /> built this way,many of which facilities we still use today.
<br /> Ill. Legislative Initiatives
<br /> II. Economic Recovery Act The third tier of this recovery picture involves carrying out
<br /> On the next tier, comes the function of directing the effort the various Federal,state,and local projects qualified as part
<br /> and funding for restoring the industrial and infrastructure- of the recovery effort.The schematic illustrates the combined
<br /> building capacity of the nation. As originally laid out, the effect this infrastructure drive will have on reviving various
<br /> Economic Recovery Act of 2006 focussed on stopping the take- productive sectors.
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