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Franken: Economy Will Come Back Strong
Saturday, July 04, 2009 5:54 AM


(Source: Duluth News-Tribune (Duluth, Minn.))trackingBy Brandon Stahl, Duluth News Tribune, Minn.

Jul. 4--Sen.-elect Al Franken made plans to spend Friday and part of today in Fourth of July parades on the Iron Range.

The Democrat was scheduled to take part in parades in Aurora and Gilbert on Friday, and today he'll hit parades in Eveleth, Nashwauk, Keewatin and Biwabik.

But before driving up to the Range, he gave a one-on-one interview Friday with the Duluth News Tribune.

Here's what he had to say.

Q: The economy in Northeastern Minnesota is obviously hurting with lots of layoffs and shutdowns at major companies. What will you do to reverse that?

A: Our economy is in a recession. There's just no doubt about that. The stimulus package is rolling out, but it's maybe rolling out a little slower than we'd hoped. And, we've got to get this economy going. There's just no doubt about that.

We had announcements from HibTac that they'll be closed until, you know, sometime in the first quarter. And that's because we're just not producing steel. ... We have to get things going, and part of it, I hope, is that the stimulus package, as more and more of the money rolls out, and more and more projects are starting to be built, there will be more and more need for steel. ...

In the short term, there's trying to do everything we can to make sure that credit starts, that people have access to capital, and the macro-economy starts working.

Q: Do you think the rollout of the stimulus money has been too slow?

A: I think that it has been ... yeah, I think that it has been a little too slow. And I think that it's not a surprise that it takes awhile to get this stuff going. And the good news is that it leaves a lot there to roll out. There seemed to be a lot of change in people's optimism about the future as soon as, you know, right after [President] Obama took over and started doing these things. ... But we have to understand that just because we have that optimism doesn't mean that we're anywhere near getting out of this recession.

Q: What would you say to the Northeastern Minnesota worker who's been laid off, can't find a job, and is thinking about leaving the area or state to find work?

A: Well, I'd say don't. You know, try to hang in there. I think that sometimes Northeastern Minnesota has been a little boom and busty. And we're in the bust now, and it'll come back. It'll come back strong. But, it's when the economy in general comes back strong, I think northeast will come back strong. So if you can possibly hang in there, don't leave Northeast Minnesota, because Northeast Minnesota is a great way to live.




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