PROPOSAL: Transition from 5 day/wk work week to 4 day/wk work wk (or "rolling layoffs") until the economy recovers (e.g. 24 months). Provide incentives to corporations to do this (e.g. tax cut 3 yrs from now) and by inviting employees to use their "5th day" to volunteer in their community or to seed entrepreneurships or to improve personal/family work/life balance. Through broad sweeping legislation this could be introduced quickly to all business/industries like a tourniquet to help stop the bleeding of red ink and propagation of more job losses.

REASONING: With the economy slowing US companies dont need to be as productive in the short term but they cant afford this; transitioning to 4 day work week would prevent the usual response to productivity decline (e.g. layoffs) staving off further increases in unemployment and burdens on state unemployment coffers.  Although income would be less for the employee it is preferable to layoff. This would ensure more folks stay in their homes which would help stabilize the mortgage/banking sector of the economy.  Companies would realize a savings associated with layoffs and avoid having to let go of trained workforce only to have to rehire 18months from now.  Possibly mortgage and health care industry would need to partner in this to decrease financial burden on individual/corp with reduced incomes/benefits.

COMMUNITY/STATE BENEFITS: The extra non work day could be utilized to establish volunteer and/or entrepreneur resource pool which could be utilized by local communities to address short falls in public services and improvements in local economy (e.g. job creation). Less work days = less stress & could translate to improvements in individual health. Individuals could be encouraged to opt for this "5th day" through incentives. This also supports Pres. Elect Obama's call for increased community involvement /service and creation of alternative energy & green technologies/businesses.