YourStreet’s mission is to help get the country back on an economic even keel by retooling old tools and paradigms and applying them in fresh new ways to restore consumer confidence and consumer spending.
YourStreet’s strategy addresses the need for:
• Creating jobs
• Increasing small-business formations
• Stabilizing the residential housing market
• Helping students with incidental education expenditures
• Supporting seniors to help them cover out-of-pocket health care costs
• Giving military families a little more in honor of their service
• Reducing federal and state deficits
In a 2010 Associated Press survey of leading economists, it was revealed that 70 percent of the U.S. economy is made up of consumer spending, which is vital to any recovery.
Based on those findings and others, we concluded that consumer spending is the main pillar of support for the U.S. economy. Further, if consumer confidence and spending become weak, as they are now, the economy falters.
We are not alone in our conclusions. Please view the video presentation on the subject by Nick Hanauer, a venture capitalist and one of the founding investors of Amazon.com, at the TED Conference (Technology, Entertainment and Design) in Long Beach, California, on March 1, 2012.
Therefore, to encourage an economic recovery, we developed a proposal to incentivize consumer spending through the creation of a new public-private partnership between government, businesses and consumers.
YourStreet proposes that emergency executive and legislative action be taken to create a quasi-public corporation (a government-sponsored enterprise—GSE) called the Consumer Investment Incentive Agency (CIIA) with the mandate of developing tools to foster and accelerate an economic recovery and with an emphasis on restoring stability in the residential housing market and incentivizing consumer spending.
To further explore the proposal please click here (pdf.) (right-click "Save-As")
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