12 Steps To Stopping a Depression

by Tula Connell [courtesy of Firedoglake]

The Depression in the 1930s didn't just happen on Black Tuesday, when the stock market famously crashed. It rolled out over a period of years, as the United States endured an ongoing decline of the economy, with unemployment worsening, home foreclosures swirling along with the Dust Bowl and bread lines snaking along for blocks. 

Among the worst periods of that cumulative disaster was the interregnum between Herbert Hoover's defeat in November and Franklin Roosevelt's inauguration in March. (In 1933, passage of the 20th Amendment moved the inauguration to the third Tuesday in January). As Hoover clung to his failed policies, rebuffing FDR's attempts to work cooperatively to address the crisis, unemployment soared and inaction paralyzed the nation for four months. The bread lines grew longer. 

History doesn't repeat itself. At least, not exactly. But it offers lessons. Lessons that many in Congress clearly haven't learned. Here's a 12-step program for lawmakers to soberly address the nation's financial crisis. 

1. Take action before the new Congress is sworn in. Inaction is not stability. In this instance, it could lead to more disaster.
2. Admit that what has been tried so far has not worked, if not outright failed. (Hint: Working people have not benefited from legislation enacted to date.)
3. Make amends for previous lawmaking errors by vowing to pass legislation that will assist working people. 
4. Create a list of all the most urgent needs of the nation's working people and then enact an immediate recovery package that includes, but is not limited to: job creation (rebuilding our nation's deteriorating infrastructure is a good start); a freeze on home foreclosures and unemployment benefits extension.
5. Override Bush's veto of the measure.
6. Take inventory over the holiday break and realize a recovery package is just the beginning of a long process toward getting our nation's economy out of ICU.
7. When convening the 111th Congress, immediately begin to address long-term economic needs.
8. Acknowledge that among the key legislative measures that need to be passed is the Employee Free Choice Act and health care reform.
9. Recognize that passage of the Employee Free Choice Act is a big step toward shoring up the nation's working and middle class. Working people are struggling to make ends meet and the Employee Free Choice Act will allow more people to bargain for better wages and working conditions—which in turn helps rebuild our middle class and create an economy that works for all.
10. Save America's working/middle class.
11. Save America's working/middle class.
12. Save America's working/middle class.

Get it?