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The Associated Press

Rahm Emanuel, D-Ill., wants a new "New Deal" for America.

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Does the New Economy need another "New Deal"?

CBS News

With the financial market reeling from the collapse of investment banker Bear Stearns, public confidence in the U.S. economy continues to plummet. Three in four Americans now rate the economy as at least somewhat bad -- the highest percentage in more than 15 years -- and the same number say they think it is getting worse, according to a new CBS News poll.

Ben likes: A New Deal for a New Depression

Ordinal Granola/Americans for Tax Reform

It is safe to say Rahm Emanuel's New Deal continues in the tradition of FDR's grand central planning experiment we are staggering under today with a serious need for entitlement reform. The real question here is whether Americans are willing to give up more and more of their paychecks to fund more government interference in the market and possibly lose their jobs as US competitiveness erodes, or whether we'll find another Wendell Willkie to stand against the new New Deal and for economic growth.

Joel likes: A New Deal for the New Economy

Rahm Emanuel/Wall Street Journal

First, we must reform the way we educate the next generation of workers to ensure that our nation stays competitive. We should require all students to receive one year of training and education after high school -- be it at a community college, technical school, or a four year university.

Second, we should ensure that all Americans have quality, affordable health care. Helping older workers and employers manage the health costs of early retirees will make it possible for entire sectors of the U.S. economy to get back on their feet.

Third, we must support the development of new, energy-efficient technologies that will make energy less expensive for consumers and businesses, help protect the environment, create millions of green-collar jobs, and make our nation energy independent.

Finally, we must become a nation of savers again with a universal savings plan.