LI executives have jobs advice for Obama

Before  President Barack Obama details Thursday night his much-anticipated proposals to stimulate the sluggish U.S. job market, some Long Island economists and business executives have advice for him on how to put people back to work.

John Durso, president, Long Island Federation of Labor, Hauppauge
"One thing I am really hoping that his speech will talk about is investing in our infrastructure [such as roads, bridges and sewers]. That will put the most amount of people to work in the quickest amount of time and really kick-start our economy. The infrastructure situation is such that, one, it's absolutely necessary, and two, it will generate millions of dollars into our economy, whether it be the people [building] or the companies engaged in building the items we need for infrastructure."

Vera Moore, president and chief executive, Vera Moore Cosmetics, Woodbury
"Tell the banks to give us a break. [Small businesses] . . . need capital to continue to run our businesses. We employ more than major businesses and we don't want to lay off our people. But the banks are keeping tight crunches on the money. . . . Many people have potential contracts. You have to have the money to fulfill the contracts. So we need capital to have our businesses go forward. As your business goes forward, and you grow your business, you can increase your employees."

Irwin Kellner, MarketWatch.com chief economist
"What he should do is give everyone over the age of 16 a gift card loaded with $3,000. It has to be spent within 90 days. It can't be saved and it can't be used to pay down debt. And it can be used for everything from a cup of coffee . . . to a down payment on a house. This would cost $700 billion, and it would circulate throughout the economy. As retailers restock their shelves, they will order more goods and hire more people to sell those goods."

Gina Slater Parker, president and chief executive , Black Women Enterprises, a technical-support group in Hempstead
"Decrease the regulations and decrease the taxes. . . . If small-business owners understand that the cost of business will be less and the business climate is going to be advantageous to their business development . . . then they won't feel like they are taking risks. They will hire more. They will buy more. They will invest more. . . . When the federal government creates mandates, the state creates mandates. Here in New York State, we are paying a premium to operate."

Robert G. Allen, president and chief executive, Teachers Federal Credit Union in Hauppauge
"We hope that as part of the president's jobs bill he will include legislation which will raise the existing cap on member businesses . . . [that borrow from] federal credit unions. The cap is currently 121/2 percent of assets. The proposal would be to raise it to 27 percent. We believe that could potentially add 140,000 jobs after one year. That market has been hard-hit by credit availability. This would allow more money to get into those people's hands, which would then increase their employment base."

Martin Melkonian, economics professor, Hofstra University
"He needs, in my opinion, a Works Project Administration program similar to what existed in the Great Depression and particularly focused in areas where unemployment is the greatest. We have lost 650,000 public-sector jobs during this administration. . . . When you lose public-sector jobs, you always lose private-sector jobs. . . . [Tax breaks] unfortunately do not provide the same amount of stimulation as direct employment. This is a moment where he could begin to bring about a real jobs program that I don't think can be easily politically resisted."