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Navajo Nation $500M in bonds touted as New Deal

Navajo Nation President Joe Shirley Jr. is seeking approval for a $500 million bond initiative that supporters compare to the New Deal.

The initiative has six components. They would fund capital improvement projects; seven one-stop shop governmental complexes for public safety, judicial, and social services' economic development projects to bring stores like Wal-Mart and Home Depot to the reservation; trauma systems; assisted living facilities; and scholarships, according to The Farmington Daily Times.

Shirley says the bonds, if approved, would create 5,000 new jobs.

Get the Story:
A Navajo 'New Deal'? ( 3/10)

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Related Stories:
Navajo Nation president promotes economic plans (10/22)
Navajo president promises Wal-Mart, Home Depot (10/16)
Navajo Nation seeks $500M to finance development (09/04)