Progress Illinois

With unemployment rising and and wages stagnating, the American economy is in need of a serious jolt. To stimulate growth, environmental and labor activists have convincingly called for a major investment in a "green economy," which would not only expand job opportunities but would fight global warming too, arguably the biggest long-term threat our nation faces. What would this economy look like and how would Illinois be affected? Earlier this week, the Center For American Progress (CAP) gave us some idea when it unveiled its Green Economic Recovery Program.

Billed as a two-year investment, the report calls for the retrofitting of buildings, an expansion of mass transit and freight rail, the construction of smart energy grids, and the expanded production of wind power, solar power, and advanced biofuels. CAP argues that if the federal government spends $100 billion over the next two years, we could create 2 million jobs nationwide. Here in Illinois (PDF), the authors estimate that such an infusion could generate 83,710 jobs, lowering the unemployment rate over a full percentage point.

Barack Obama has vowed to invest $150 billion in a clean energy economy.  But his proposal spreads that appropriation over a more cautious 10-year period. John McCain, who speaks constantly about the need for energy independence, has made no similar pledge, instead vowing to invest heavily in nuclear power, clean coal, offshore drilling, and alternative energy tax credits.

(H/T Progressive States Network)