http://www.cqpolitics.com/wmspage.cfm?docID=news-000003253805
GREGORY: But this is a big debate, Senator Feinstein. What should be the priority right now, more jobs or cutting the debt?
FEINSTEIN: Well, right now it’s more jobs, because unemployment -- I’ve got nearly two and a half million people unemployed. That’s bigger than the population of 12 states. It’s a real problem, because California is an economic dynamo for the rest of the country and when it’s off, it has a repercussion all throughout America. And it is off. Having said that, I think we need to do some very careful things with respect to some lending for big infrastructure. An interest that I have had for a long time is in high-speed rail, and there are three regional high-speed rail systems being planned in the United States. I’d like to see an infrastructure bank developed with some of the remaining TARP money that could lend to communities to move those plans forward quicker so that -- because transportation has a billion -- it has 40,000 jobs for a billion dollars spent, and so it’s a good investment of funds right now. We have to be concerned with jobs.
Posted on
Sunday, November 22, 2009
by BAF