Last week, we learned that the swift action by the President and Congress to pass an economic recovery package earlier this year helped stave off a global economic recession, put our economy back on the path of growth, and helped save hundreds of thousands of jobs.

SEIU was a major proponent of the economic recovery package and we believe we need to continue to make progress on a number of other economic initiatives to build long-term sustainable economic growth--these include passing meaningful financial reform, investing in green jobs, using public pension funds to build a 21st century infrastructure, and creating a new retirement system to protect our future.

Passing Meaningful Financial Reform
Anna Burger writes on New Deal 2.0 about the need to fundamentally change the way we value wealth and work in our country and act now on meaningful reforms to protect our families from future economic crises.

To build long-term economic progress we must:

• Create a strong Consumer Financial Protection Agency to serve as a watchdog against predatory and reckless banking products;
• Crackdown on out of control executive pay that rewards short term risks over long term results;
• End too big to fail once and for all by separating commercial banking from investment banking and raising capital requirements back to levels that promote safe and sound banks;
• Empower shareholders to act on executive pay and break the excessive power of executive-controlled boards;
• Force banks to expand lending to small businesses and state and local governments to create jobs and save critical services;
• Demand banks stop foreclosures and help families keep their homes;
• Reregulate the shadow financial markets--including derivatives, hedge funds and private equity; and
• Investigate, and if necessary prosecute, the big banks and Wall Street for crashing our economy.

In case you missed it--more than 5,000 Americans from 20 states--converged on the American Bankers Association convention in Chicago to demand banks stop fighting reforms that would help protect our families from future crises. It was the beginning of a national movement to hold banks and Wall Street accountable for their reckless behavior.

Investing in Green Jobs
During the first meeting of the President's Economic Recovery Board, Anna Burger shared her perspective on how business, labor and government can work together towards creating a low-carbon, green economy and a movement into sustainable good, green jobs--citing the work SEIU and other Change to Win unions are already doing on the community and national level to lead the way on green initiatives.

"The millions of working people reeling from the severe economic recession need a recovery package that not only addresses the crisis and relieves the pain, but also lays the groundwork for a stronger and fairer future," writes SEIU International Secretary-Treasurer Anna Burger on Politico's The Arena, commenting on what kind of stimulus plan this country needs to get our economy back on track.

Anna continues:

"It was the short-term mind-set and greed of Wall Street that got us into this hole but it will take the long-range vision of President Obama, Congress and the American people to pull us back out.

[...] "Through direct investment in state and local government, we can shore up jobs and services in states and local communities--especially health care, unemployment insurance and food stamps--that are in demand in this crisis.

"We need change that works - now and in the long-term. We can start building a stronger American economic future by investing in infrastructure and green projects to create new jobs for the 21st Century...we've also got to move quickly to reform health care and pass the Employee Free Choice Act to ensure that workers, not just CEOs, can benefit from the progress they help create."

The Wall Street Journal published an extensive interview with SEIU President Andy Stern this weekend --

Let's 'Share the Wealth'

America's most powerful union boss says Europe offers a good economic model.

The Wall Street Journal
OPINION: THE WEEKEND INTERVIEW WITH ANDY STERN
By Matthew Kaminski

"We just won an election. It's no secret." By "we," Andy Stern means "American workers." He also means Big Labor. Speaking on behalf of the fastest growing trade group in America, the Service Employees International Union -- and as one of labor's most powerful figures today -- Mr. Stern sets this simple bar for the Obama presidency: "I expect nothing less than what he said he was going to do, and we should hold him accountable."

From his perspective -- atop SEIU's Washington headquarters, which offers an enviable view of the National Cathedral -- the first part is straightforward: "Massive investment" in a stimulus for the economy, the car industry, deficit-ridden states and infrastructure. Then universal health care, an issue on which the SEIU boss helped push the Democratic consensus leftward, and "tax cuts for the middle class" (and hikes for the upper bracketed). At the end of his list, Mr. Stern puts something particularly dear to unions: Quick adoption of the Employee Free Choice Act, commonly known as "card check," which would end secret ballots in union elections.

The bit about accountability is no idle warning. Organized labor put up some $450 million to get Democrats elected. The SEIU accounted for $85 million of that, making Mr. Stern's union the single biggest contributor to either party in this election cycle. And just in case, the SEIU set aside an additional $10 million fund to get people unelected if need be. "We would like to make sure people appreciate that we take them at their word and when they don't live up to their word there should be consequences," he says.

>> Read the rest of the Wall Street Journal's weekend interview with Andy Stern.