The Wall Street mess and the locked-tight credit markets are clearly impacting Michigan in many ways. A few examples from the past several days…

LACKING LIFEBLOOD: As the Detroit Free Press documented, homeowners and businesses alike are seeing credit dry up, making it tough to make payments ranging from mortgages to payrolls.

AUTO DOLDRUMS: Domestic auto sales reached their lowest levels in 15 years. Beyond the obvious repurcussions through Michigan's automaker and supplier base, this has direct impact on the public sector, where the bean counters often tie future tax and revenue projections to the fate of the auto industry.

WATCHING OVER GRAND RAPIDS: In contrast to the greed its effects on Wall Street, philanthropic leaders in Grand Rapids are once again stepping forward to improve classroom performance, build a new library at Grand Valley State University, and take on other signature projects when many other communities face contraction.

NEW KINDS OF BONDS? Tired of your tax dollars going to war and other priorities you don't support? Former Michigan schools superintendent Tom Watkins has an answer: new bonds designed specifically to support 21st Century competitive priorities like education, research and technology.

Invest In America Now!

700 Billion dollar bail out for Wall Street, trillions lost in the stock market plunge–pretty soon, we are talking about real money! Now what?

If you are like me, you are mentally exhausted with the economic pounding we have been taking of late.

I don't even want to open the envelop with my 401K statement. I can feel the value of my home sinking under my feet. I worry about losing my income. And I don't know if I am madder at the greed on Wall Street or the incompetence in our nation's capitol let the Robber Barons — well, be robbers!

Yet, like the guy complaining about not being able to afford a new pair of shoes until I see the man with no feet, I feel lucky to still have my home, health care and income. Michigan has been leading the parade of the economic death march for longer than other parts of the country — but it seems everyone is catching up quickly.

The American people are getting battered by the economic tsunami that has been washing over our shores. Many are angry and feel helpless as we watch what feels like the disappearing act of the American Dream.

Many of my friends and colleagues from around the state and nation are angry and fed up with a financial and political system that seems to have economically abused the ordinary, middle class people who helped build this great nation of ours while enriching themselves. The anger is at a boiling stage and many want to grab our collective pitch forks and make someone "pay" for the damage they have caused to so many people and the very foundation of our country!

Yet, while the anger is palpable, there is also a yearning to try to create something positive out of this mess.

Look, I am far from an economist — but, I am an American and I don't like the helpless feeling that this huge fiscal crisis has placed upon me, my family, and country. I am finding myself complaining to anyone who will listen. While that may be good therapy, it won't "fix"
anything. We need to do something to pull the American people together as one — not Republican's or Democrats, Blue State-Red State — but the United States.

As President Franklin Delano Roosevelt said at the height of the Great Depression, "Do something and if that does not work, do something else, but for God's sake, do something!"

Here is an idea: Invest in America Bonds

I say we call for issuing "Invest in America Bonds." They would be similar to the "War Bonds" last issued during World War ll. We have an economic Pearl Harbor facing our nation and it's time to come together as a country and re-invest in America.

Rather than issuing these bonds to finance military operations during war time, they would be used to invest in creating jobs for the 21st century hyper-competitive, disruptive, transformational, technologically driven knowledge, global economy. No, this idea is not going to solve our financial mess — but it would engage the spirit of the American people and the resources can be used to help stimulate job creation here at home in:

* alternative energy — to get us off dependence of foreign oil.

* rebuild our crumbling infrastructure, roads, bridges, schools ports and rail.

* innovation to make us safer in world full of global terror.

* new manufacturing technology to recapture this vital industry for America.

* Invest in talent/education from the cradle to the grave to make us once again the "brain bank of the world!"— where everyone comes for deposits and withdrawals.

Americans are looking for safe havens for investment. They are also looking for ways to help lift up our nation and spirits. What better way to do so than creating a campaign that allows all of us, from school-age children to adults, to invest in America? Imagine children filling a promotional cardboard "Invest In America" holder with 75 slots for quarters, to equal $18.75. When full it could be turned in for a bond that matured in 10 years. Other campaigns in larger denominations could be created to raise significant resources to be invested in the American people.

This is a campaign that either, Senator McCain or Obama could easily promote as President.

Investing should be made as simple as possible. Payroll deduction would be an easy method. As with savings bonds, employees would earn the interest on their investments. "Invest In America Bonds" could be used only for investment in our country and in specific businesses that have the potential to restructure and revitalize America and put our people back to work.

At the end of the Victory War Bond campaign in 1946 more than 85 million Americans — half the population at the time — purchased bonds totaling
$185.7 billion. With inflation, imagine the money that could be generated to put America back on our feet and back to work!

After Congress makes the decision to bail out Wall Street, let's regroup as a country and invest in ourselves.

I believe America is worth investing in — do you?

Tom Watkins is a business and educational consultant in the US and China. He served as state superintendent of public instruction (2001-2005), and President and CEO of the Economic Council of Palm Beach County, FL., 1996-2001. He can be reached at:tdwatkins@aol.com