IN HEARING, LARSON ADVOCATES FOR NEW INDUSTRIAL POLICY
FOR IMMEDIATE RELEASE: October 29, 2008
Contact: EmilyBarocas /202-225-7295/202-593-1377
IN HEARING, LARSON ADVOCATES FOR NEW INDUSTRIAL POLICY
Washington, DC - In a hearing of the House Ways and MeansCommittee today, Congressman John B. Larson (CT-01),Vice Chair of the Democratic Caucus, questioned witnesses about the needfor a new industrial plan to improve our economy.
Larson said after the hearing, "For years now, our economyhas been based on bloated paper assets. We rise and fall based on the value of stocks, derivatives andfutures. And the result has been aseries of bubbles that burst under the weight of their own overvaluedcomponents. It is time to rebuild ournation's economy on the basis of real tangible goods and work. It is time to invest in our country'sinfrastructure to make us competitive in a global market. We need to improve technology in our schoolsto give our students the tools they need to learn and thrive. And, we must rebuild our broken highways,bridges and railroads."
In questioning, Congressman Larson asked David Mongan,President of the American Society of Civil Engineers, if he saw the need for anew industrial policy. Mongan said thatwe do, and reinforced the idea that our schools and infrastructure are fallingbehind our competitors'. To becompetitive, he said, we must invest in schools and roadways at the same levelas our colleagues in competing nations.
Randi Weingarten, President of the American Federation ofTeachers also spoke of our schools as the place in the clearest need ofincreased investment in technology and infrastructure. She pointed to a lack of funding fortechnology like broadband in our schools.
Larson said, "We must rebuild our economy from the groundup. That means investing in our nation'score infrastructure and workforce. Ilook forward to working to ensure that we take the steps necessary to accomplishthat."
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