"As president, I would first address the pain, suffering and inequity in our society caused by the current recession by taking the following steps: provide funds immediately for emergency food, shelter and health care ($700 million), extend unemployment benefits and provide at least $1 billion more in job training and retraining funds.

"The president's program for a weak recovery is not enough. As president, I would pursue a monetary policy necessary to support the target of real growth (5.4 percent over two years) typical of the best expansive periods of the last 40 years.

"But unlike others in my party and the administration, I do not believe that economic recovery is enough. To return to a time of sustained, long-term economic growth and expanding opportunity, we will need new policies that reflect the changing nature of the American and world economies. In the midst of this recession, the economy is experiencing a major transition in which new technology and foreign competition are playing the leading roles.

"I would propose an agenda for national economic renewal. First, I would initiate a 15-year infrastructure-rebuilding plan providing immediate and long-term employment emphasizing areas of greatest need.

"Second, I would negotiate agreements to modernize basic manufacturing industries, increase research and development and aggressively pursue export opportunities to make the U.S. economy more globally competitive.

"Third, I would propose an employment and training stragegy based on a modernized education system, increased corporate training and innovative means of encouraging individual saving for future retraining."