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Rev. Jackson proposes program to boost economy

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    Eric Shawn reports from New York City

  • Duration 2:07
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Well -- -- -- -- to kick start the economy and it comes from the reverend Jesse Jackson at the annual rainbow push Wall Street project economic summit.

Reverend Jackson now proposing a domestic Marshall plan type program or pension money would be used to reinvest in American cities.

Eric shot his life on the summit in New York Eric.

But you know there are some new cost -- the American economy not just reverend Jackson.

But also from former President Bill Clinton who just finished -- -- speech here.

A few moments ago.

The former president said the clock is ticking on dealing with the national debt.

He says something has got to be done and saying that the -- in Washington and the growing national debt he says pose a threat.

To the American economy.

We just have a few years here to make sure that we have.

On economic policy in America.

Against capital everybody needs -- and his -- it gets an education everybody who needs it and can use it.

And invest in the future.

As well as the past.

But -- project is dealing with economic problems the reverend Jackson wants to focus on pension funds.

Is -- -- a new pension fund loan program for American cities that he says will boost the economy and help lower the unemployment right.

Take a look at the amount of assets and pension funds right now just under seven trillion dollars here's how it's all invested.

About a half a domestic stocks and international stocks only six point 5% in real estate.

-- and other investments the reverend Jackson told us that the money to invest is there.

The must not be some plan for economic reconstruction.

I am convinced the largest body of money -- used to that if it would be portion.

Of pension fund money is to build an infrastructure.

Development bank which makes long term.

Low interest -- But the reverend Jackson said this country did it -- -- to move for Japan and Europe.

We can do it now here at home.

-- back to you are -- -- thanks up.

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