President Obama continued his visits to different parts of America to discuss the economy. This is his attempt to use the Bully Pulpit of the Presidency to direct a national dialogue. The president said, “There are no simple tricks to grow the economy. What we need is a serious, steady, long-term American strategy that reverses the long erosion of middle-class security and gives everyone a fair shot to get ahead.”
Ignoring warnings from current and former financial market regulators, law professors, institutional investors and consumer advocates, the Senate today passed (73-26) the cynically named JOBS Act and, says AFL-CIO President Richard Trumka, “We are disappointed and angry.”
The Senate failed today to pass a set of amendments to the cynically named JOBS Act , which will do little to create jobs but will deregulate Wall Street and weaken the Wall Street reform measures enacted after the financial industry’s take-down of the economy.
An urgent e-mail from AFL-CIO President Richard Trumka is urging activists to tell their U.S. senators to oppose the cynically named JOBS Act, which some members are rushing through to deregulate Wall Street. Trumka says senators instead should support amendments that would make the bill less harmful to working families.
The bill, which could pass as early as Monday, encourages speculation and will destroy jobs by reducing investor confidence in small companies, Trumka says. The amendments to the bill in the INVEST in America Act of 2012, sponsored by Sens. Jack Reed, Mary Landrieu and Carl Levin, would reduce the JOBS Act’s damage to investors, pension funds and the U.S. economy. It’s time for Congress to set aside the politics of the 1%, the old game of special favors for Wall Street, and turn to the business of real job creation, Trumka says.
Please urge your senators to oppose the JOBS Act and support the amendments in the INVEST in America Act. Click here
now
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