SEIU Prez Andy Stern Expresses Disappointment on Senate Bailout Bill

SEIU President Andy Stern released the following statement yesterday about the version of the bailout bill that passed the Senate last night by a margin of 74-25, with only 10 Dems voting against it. (Bingaman voted for it, as did Domenici.) Stern also references the work we have ahead of us to get Obama elected and keep the pressure on when he takes office. The struggle for a better deal for ordinary Americans never ends.

With the U.S. Senate poised to approve a bailout plan for Wall Street tonight, Andy Stern, president of the Service Employees International Union (SEIU), expressed disappointment that Congress appeared ready to pass up an opportunity to address the economic concerns facing millions of American families:

“It’s very disappointing that Congress is passing on this opportunity to invest in a new economic model that puts government on the side of the people.

“The reality is that this bill isn’t going to solve the problems facing our economy. If we really want to revive the economy over the long-term, we must address the underlying financial issues facing American families, the consumers who are the backbone of our nation’s economic health. Rising unemployment, stagnant wages, the healthcare crisis, a tax system that favors the wealthy over the workers – these inequities are at the root of our nation’s financial crisis. If Congress can put $750 billion aside to save Wall Street, we expect at a minimum that they make the same commitment to invest in addressing these issues.

“The bad news is that these problems aren’t going to go away on their own. Things aren’t going to change unless we fundamentally change the way we do business in Washington. The good news is that a little over a month from now, we have an opportunity to make that change a reality.

“On November 4th, we won’t have to put our economic fate in the hands of a Republican administration. We the people will have the power to make our own choice: between the old politics of corporate cronyism and worship of the market – or the promise of change. The promise of quality healthcare that every person in this country can afford, and the ability to retire secure in the knowledge that your savings won’t be lost in a turbulent stock market. The promise of a sustainable energy policy that provides new jobs and long-term energy independence. The promise of a new American dream.

“Barack Obama has a plan to fulfill that promise for change. And when he is elected President, SEIU’s 2 million members are going to make sure that he implements that plan, so we can create a new American economic model that works for Main Street, not just Wall Street.

“Washington is missing a huge opportunity to provide real solutions to the financial crisis facing American families. Now, it’s up to American families to change Washington.”

On Thursday, SEIU and the other unions of Change to Win proposed an economic package that would invest in programs to improve the lives of tens of millions of Americans, including:

• Relief for struggling homeowners. Estimated cost: $0.

• A national health care plan. Estimated cost: $130 billion over two years.

• A plan for energy independence and green job creation. Estimated cost: $20 billion over two years.

• Retirement security. Estimated cost: Negligible

• Improved infrastructure. Estimated cost: $22 billion over two years.

• Tax reforms to correct a system that currently favors CEOs and business while contributing to a growing income divide. Estimated cost: $80 billion.

• Reforms that ensure workers have real freedom to choose a voice at work. Estimated cost: $0.

• Affordable education. Estimated cost: $100 billion over two years.
  

Cheap compared with the funds that are being tossed to Wall Street this month, isn't it?