Bernard L. Schwartz, a New America Foundation board member, appeared on CNBC with Maria Bartiromo on Tuesday calling for a $1 trillion public/private investment program to revive the American economy, close the deficit in America's essential infrastructure, and put Americans back to work.
"We're talking about getting people back to work and addressing one of the great deficiencies in America," said Schwartz, chairman and CEO of BLS Investments and retired chairman and CEO of Loral Space & Communications.
The trillion dollar investment would be financed through public and private partnerships and would cost the federal government less than $400 billion over a five-year period. While it would increase the national debt this year, the program would pay for itself over time, according to Schwartz. "We can afford to have a multi-year program that allows people to go back immediately to work and that will create wealth in the future... That's how America was built."
For more information on the case for an infrastructure investment program see:
For more information on New America Foundation's Economic Growth Program: http://growth.newamerica.net/home.
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