Our State has an official unemployment rate of 9% and an actual unemployment rate of 25%. Nearly one million people are unemployed in our State. By comparison, North Dakota has one of the lowest unemployment rates in the nation – in part because North Dakota has their own State Bank which keeps their money in North Dakota and protects their economy from reckless Wall Street gambling and Mega Bank Monopolies. If we had our own State Bank, it would also generate revenue to restore funding for schools, colleges and other essential State services.
Currently, we put an average of $4 billion of State Revenue into Mega Bank Monopolies. Most of this money is shipped out of State and even out of the country to pay for billions in bank bonuses and sweat shops in China. If we had a State Bank, the money could instead be loaned to local community banks and small businesses to create jobs and improve the economy here in Washington State.
But it will not be easy to get a State Bank passed by our State legislature as many in the legislature get the money for their re-election campaigns from bank monopolies and other wealthy corporate lobbyists. This is why we need your help. If we build a large enough coalition, the legislature will be forced to pass a State Bank bill so we can finally begin to rebuild our State’s economy.
Click here to sign a petition.