President Obama should address the Nation and demand that Congress put on his desk within the next 30 days legislation that will authorize him to spend $200 billion to put 5 million construction workers on the job repairing our infrastructure.
He should say that if Congress fails to act he will invoke emergency powers granted him by law to get this done.
The Emergency Powers are enumerated in the Constitution and codified in The National Emergency Act of 1976. Reagan used these powers a dozen times as has every president since EXCEPT President Obama.
Congress can only stop him by passing a joint resolution.
Teddy Roosevelt argued that a President MUST use every power implicit or explicit, to aid the Nation in whatever way was necessary for our general welfare. His VP, Taft [later President Taft the Supreme Court Justice Taft] disagreed, insisting that only EXPLICIT powers enumerated by the Constitution were legal.
Wilson pushed our Nation into WWI thru such implicit powers, and Nixon used these powers to impose wage and price controls. By 1974, Congress had enough. They Drafted and passed The National Emergency Act to put SOME check on the Presidents' powers.
President Obama faces an emergency--NOT the Stock Market crashing, but a Nation suffering from prolonged unemployment that has eaten away at our ability to deal with nearly every challenge we face.
If/when Congress failed to agree to a $200 billion infrastructure package, the President can instruct Treasury to mint one of those handy, pocket-sized $200 billion platinum coins, which would be 'sold' to the Federal Reserve for the same ridiculously-low rate of interest Goldman Sachs now gets for overnight monies:.025%. The President then fully implements a $200 billion infrastructure program through the States--picking up their capital budgets and thus, saving them--and using Executive Powers to authorize transportation projects certain Governors won't authorize: a tunnel between NJ and NY comes to mind.
Congress could, of course, impeach him--for giving 5 million unemployed construction workers a job. That would ensure a landslide re-election. The President can explain to the Nation that this program would result in 3 million non-government-funded jobs as a result of increased demand on Main Street for goods and services. The $200 billion outlay would offset about $40 billion in food stamps and Unemployment Insurance that would not have to be spent, AND would bring in $40 billion in income and Social Security taxes, not to mention State taxes, so that the actual cost would be half the $200 billion outlay.
Of course, we can all come up w/ our own 'emergency' packages; this is my simplest one. Politically, it would be a heavy lift. But I agree with Teddy Roosevelt, not the fat-cat Howard Taft, that a President MUST use every power available to ensure the general welfare of the citizens of the United States is secured.