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Congressman Tim Bishop
February 5, 2010 @ 12:00 am EST
- Putting people back to work so they can begin to spend again and get economic demand stoked.
- Stabilizing the banking system to get lending moving again, providing working capital to business.
- Foreclosure mitigation, keeping homeowners in their homes.
Mr. Bishop went on to describe the stimulus program (ARRA) as a modest success against those three goals, and a singular success at pulling our financial system back from the brink of a total depression. It is easy to take shots at TARP, but it worked to avoid a complete collapse. The ARRA has served to begin the process of bringing us out of a deep hole, with GDP swinging to a positive direction during the year since its announcement. The Congressman provided many statistics to reinforce his assertion. He claimed the best evidence for the ARRA’s influence on Long Island is to look at education on Long Island. He said that the program backfilled the cuts that would have had to happen without the injection of $157 million dollars to the local education authorities. It saved local jobs, avoided a property tax increase, and preserved the quality of education on Long Island.
The Q&A program was feisty, focusing on infrastructure investment and research. There were questions on MAGLEV, the Gas Tax, and the US National debt. It was punctuated by a sharp exchange between one of our guests and the congressman. See it for yourself on your computer or smartphone at http://proimagegroupinc.com/limba/2-5-10 Come to a LIMBA meeting to participate, network and greet our elected officials and community leaders.
Our efforts to provide the video of these meetings has been very helpful in getting our comunications to our readers. This would be a high profile opportunity for you to sponsor the efforts of our video team. Pro-Image Studios have been sponsoring the work themselves. and we thank them. Call me I’ll tell you what is involved.
Ernie Fazio 631 757-1698