John Flerlage Discusses Prosperity and Opportunity
The middle class is the backbone of the American economy and is, in fact, the backbone of America itself. Rebuilding the middle class is my foremost economic concern.
The middle class owes its success in large measure to the reforms of the New Deal. Not only did the New Deal create many well known programs, such as Social Security, but it also created other programs that are still vital to the success of the middle class. These programs are universally popular in America. Programs and agencies created by the progressives of the 1930's include bank deposit insurance (FDIC) and federally backed home loans (FHA). Other initiatives of the New Deal dealt with the markets, and included the creation of the Securities and Exchange Commission (SEC) and the creation of the Federal Open Markets Committee (FOMC) as part of the Federal Reserve system (itself created in 1913 by progressives).
The success of the middle class owes much to the New Deal progressives. The modern conservative agenda has eroded the programs that helped build the middle class, which culminated in an unprecedented economic decline at the end of 2008.
The great initiatives that built our economy by supporting the vast community of Americans are slowly being dismantled. The savings and loan scandal, the subprime crisis, the attempted privatization of social security, the lack of corporate securities oversight by the SEC, and the current liquidity crisis are all results of conservative policies designed to benefit a small segment of the population to the detriment of the broad middle class.
For many years, progressive attempts to create job and wage growth were rejected by the conservative members of Congress and the administrations. Changes to trade, immigration, and tax policy, as well as wage, union, credit and bankruptcy laws have dramatically reduced job and wage growth. To rebuild the middle class we need new leadership and representation in Congress.
The vast majority of businesses in America are privately owned. These businesses are responsible for much of the job creation in America. One of the greatest differences between the United States and other developed countries is the ability of Americans to start their own business to fulfill their American Dream. I support tax policies and regulation that minimize the burden on small business in America.
Though the majority of our economy is driven by the consumer, wealth creation is driven by the efficiency and innovation of our great corporations.
Tax policy must be stable and fair and health care must be reformed for our corporations to compete in the global economy and continue to create wealth and jobs in America. Regulation must be fair to all parties; investors, consumers and workers.
Read more: CorporationsI will work to ensure the 6th District is included in Colorado's business expansion into new energy and information technologies.
This will add to the existing presence of large companies in our district, such as Lockheed Martin in space technology and Liberty Media in communications, as well as small companies, such as Infinity Energy. I will also support efforts to provide broadband to all communities. I will support and work toward making Colorado the new energy technology leader in the United States.
I support the following initiatives for the families and workers of our country.
- Reform personal bankruptcy law and health care policies to protect families facing a medical crisis.
- Reform credit card regulations to include banning unilateral changes to agreements on existing debt.
- Expand the availability of flexible work arrangements.
- Enforce existing laws through the NLRB.
- Pass the Employees' Free Choice Act (EFCA).
- Improve and fund worker retraining programs.
- A living wage and a minimum wage for all working Americans.
- Equal pay for equal work.
- Protection of Social Security.
I support capitalism and markets.
Essential to the functioning of markets is the rule of law, to include the enforcement of contracts and property rights through the courts, the regulation or break-up of monopolies, the protection of strategic commodities and industries, and responsible monetary and fiscal policy. Passing legislation that provides for the existence of corporations, trade, and labor rights is a legitimate and necessary function of government.
The federal deficit and growing debt burden are among the most critical problems facing America today, and are the two most important long-term problems of our economy.
Read more: Fiscal PolicyDue to the trade and federal deficits, poor monetary policy, and a lack of regulatory oversight, America finds itself in a period of negative growth, net job loss, and declining investment. For many years, the Federal Reserve ignored its mandate.
Read more: Monetary PolicyWe must simplify the tax code and tax filing requirements. We must fund the IRS so that it can operate the government as a business and ensure that revenues are collected in a fair and just system.
We must have a better plan to protect strategic industries and commodities than exists today. It is a matter of national security. This includes reducing dependence on imports of strategic products and the implementation of the recommendations of the Hart-Rudman Commission on national security.
I believe that trade with foreign nations should strengthen the American economy and create more American jobs. I will stand firmly against agreements that undermine our economic security. I will support agreements that improve labor and environmental protections here and abroad. I will fight for fair trade.
In the short-term, we must secure our borders, provide employers with a method to ensure all workers are here legally, and punish employers that hire workers who have no legal status in the U.S. We must work together to humanely bring the people that are already here out of the shadows and into a legal status. In the long-term, we must improve our relations with Mexico and assist Mexico in its economic development.
I support President Obama's plan to create a National Infrastructure Reinvestment Bank. I support making the Research and Development Tax Credit Permanent. I will work hard to ensure that Colorado receives its fair share of infrastructure investment from the federal government.
The solution to America's energy problems is a National Energy Policy that not only reduces our dependence on foreign oil, but on all oil products, imported or otherwise. This plan must account for the economic costs of CO2 emissions.
Read more: Energy
