Lincare Drivers Join the Teamsters Union teamster.org ...Drivers with Lincare Inc. in Marlborough, Mass., voted unanimously on Sept. 16 to join Teamsters Local 170 in Worcester, Mass...
Legislation would prevent shortcuts in setting sleep apnea regulations Fleet Owner ...Trucking interests, including the Teamsters Union, are applauding legislation introduced late last week that would prevent the Federal Motor Carrier Safety Administration from taking shortcuts in the process if they intend to set standards for screening and testing professional drivers for sleep apnea...
Culinary Union warns of citywide strike in Vegas Associated Press ...The Culinary Union has issued a written warning to Wall Street investors, saying a citywide strike by Las Vegas hotel workers is possible if contracts aren't inked soon with two major companies...
Rich-Poor Employment Gap Now Widest On Record Associated Press ...The gap in employment rates between America's highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for The Associated Press...
Amid slow economic recovery, more Americans identify as 'lower class' Los Angeles Times ...A small but surging share of Americans consider themselves 'lower class,' a surprise to some researchers and activists despite the bruising economy...
House GOP moves forward with $40 billion cut to food stamps The Hill ...House Republicans on Monday introduced a food stamp reform bill that they say will cut $40 billion from the program over 10 years....
CFPB Warns Employers About Payroll Card Abuse AFL-CIO Now ... The Consumer Financial Protection Bureau (CFPB) warned employers yesterday about the misuse of prepaid payroll cards and that they cannot require workers receive their wages via prepaid cards. ..
Larry Summers Withdraws From Fed Chair Race Fire Dog Lake ...In a stinging rebuke to the forces of financial deregulation in general, and the Robert Rubin clique in particular, Larry Summers withdrew his name from consideration for Chairman of the Federal Reserve after it became clear he could not be confirmed...
American Fugitive Used Big Banks To Shuffle More Than $1 Million Offshore, Records Show ICIJ ...An American wanted on organized crime charges in New Jersey and New York shuffled more than $1 million around the world through accounts at JPMorgan Chase & Co. and Australia’s ANZ Bank, confidential records show...
The US Federal Deficit Continues to Shrink truthout ...The federal budget deficit has been plummeting in size over the last few years; however, judging from polls, most Americans do not know that – indeed, their concern over the deficit has grown even as the annual deficit has shrunk significantly...
Third World Watch: Deadly Brain Amoeba Found in US Tap Water Naked Capitalism ...The US now ranks 27th in life expectancy among 34 advanced economies, down from 20 in 1990.But in addition to the considerable health dangers of stress and weak social bonds, more obvious public health risks may be coming to the fore. Strained municipal budgets means reduced public services...
POSITIVE TRAIN CONTROL: Additional Authorities Could Benefit Implementation GAO ...To install positive train control (PTC)--a communications-based system designed to prevent certain types of train accidents caused by human factors-- almost all railroads are overlaying their existing infrastructure with PTC components; nonetheless, most railroads report they will miss the December 31, 2015, implementation deadline...
Week-long strikes against austerity, reform begin in Greece Xinhuanet ...Greece's labor unions launched on Monday a new week of strike action, the most extensive this autumn, against austerity and reform measures introduced to tackle Greece's crippling debt problems...
Phoenix pension ‘spiking’ rules vary for city employees Arizona Republic ...While retiring Phoenix City Manager David Cavazos considers converting roughly $200,000 in unused sick leave to enhance his pension, the city is fighting rank-and-file municipal employees in court to keep them from doing the same thing...
Groups may seek privatized liquor sales in Oregon Statesman Journal ...Grocery stores and convenience stores may get behind a ballot initiative to privatize state-run liquor stores now that the Oregon Liquor Control Commission has decided to let liquor stores sell wine and beer...
Right-to-work ruling faces rough road Post-Tribune ...They couldn’t stop it in the General Assembly, and they failed in federal court. But last week, opponents of Indiana’s right-to-work law finally had reason to celebrate, when Lake Superior Court Judge John Sedia ruled the law unconstitutional...
Wisconsin DOT provides grant, loans for four freight-rail projects Progressive Railroading ...Wisconsin Gov. Scott Walker on Friday announced the Wisconsin Department of Transportation (WisDOT) will provide grants and loans totaling nearly $11 million for four freight-rail improvement projects...
Showing posts with label deficit. Show all posts
Showing posts with label deficit. Show all posts
Tuesday, September 17, 2013
Monday, May 27, 2013
Today's Teamster News 05.27.13
Hundreds of thousands of bikers rumble into D.C. for Rolling Thunder Washington Times ...Perfect temperatures, a bright sun and blue sky commanded Sunday’s forecast, but it was the sound of thunder that stood out for the D.C. area, as more than a half-million motorcycles rumbled through the city for the 26th annual Rolling Thunder.
2013 Memorial Day Honored As Monuments Decay, Funds Dry Up Associated Press ...How do we honor those who have served when memorials deteriorate and finances are tight?...
Wal-Mart Plasters Stores With Green Dots to Stay Stocked Bloomberg ...Wal-Mart Stores Inc. (WMT) is turning up the pressure to keep its shelves adequately stocked by proposing to tie executive compensation to the issue -- and has asked an outside auditor to alert workers which items to focus on by plastering U.S. stores with neon green dots. ... Wal-Mart had trouble keeping its stores stocked as it cut back on workers per store...
Study finds unionized schools to have higher graduation, retention rates Daily Nebraskan ...unionized schools tend to have higher graduation and retention rates and lower budgets than non-unionized schools...
So Much for the Impending Economic Armageddon Federal Budget Deficit Economic Populist ...the deficit has dropped dramatically...
How Free Trade Agreements Crippled Detroit Economy in Crisis ... NAFTA made manufacturing cars in the U.S. too expensive. As a result, Detroit factories closed down and jobs were lost...
Sixth Night of Violence in Sweden Financial Times ...In Linköping, central southern Sweden, police responded to 120 incidents as cars, caravans and two schools were set alight...
Storm brews over potential Koch brothers control of Tribune newspaper chain Financial Times ...With a sale likely of a prominent group of US newspapers, the interest of a potential buyer tied to right-wing causes has galvanized opponents fearing the dailies could become political tools...
One week later: The daunting recovery in Oklahoma CNN ..."This is a massive debris field," she said. "It's not just a couple blocks. It's miles."...
In North Carolina, unimpeded GOP drives state hard to the right Washington Post ...Backed by throngs of chanting supporters, dozens of liberal demonstrators are subjecting themselves to arrest each Monday at the state legislature here to protest a flurry of bills that could transform North Carolina into a model of conservative governance...
Jerry Hanson: Scott Walker's Wisconsin has gone to the dogs (opinion) The Cap Times ...the legislative budget committee ... extended a friendly paw to “big money” by declaring that people could NOT challenge construction of high-capacity wells that might draw down water levels so significantly as to impact neighboring wells, streams or lakes...
2013 Memorial Day Honored As Monuments Decay, Funds Dry Up Associated Press ...How do we honor those who have served when memorials deteriorate and finances are tight?...
Wal-Mart Plasters Stores With Green Dots to Stay Stocked Bloomberg ...Wal-Mart Stores Inc. (WMT) is turning up the pressure to keep its shelves adequately stocked by proposing to tie executive compensation to the issue -- and has asked an outside auditor to alert workers which items to focus on by plastering U.S. stores with neon green dots. ... Wal-Mart had trouble keeping its stores stocked as it cut back on workers per store...
Study finds unionized schools to have higher graduation, retention rates Daily Nebraskan ...unionized schools tend to have higher graduation and retention rates and lower budgets than non-unionized schools...
So Much for the Impending Economic Armageddon Federal Budget Deficit Economic Populist ...the deficit has dropped dramatically...
How Free Trade Agreements Crippled Detroit Economy in Crisis ... NAFTA made manufacturing cars in the U.S. too expensive. As a result, Detroit factories closed down and jobs were lost...
Sixth Night of Violence in Sweden Financial Times ...In Linköping, central southern Sweden, police responded to 120 incidents as cars, caravans and two schools were set alight...
Storm brews over potential Koch brothers control of Tribune newspaper chain Financial Times ...With a sale likely of a prominent group of US newspapers, the interest of a potential buyer tied to right-wing causes has galvanized opponents fearing the dailies could become political tools...
One week later: The daunting recovery in Oklahoma CNN ..."This is a massive debris field," she said. "It's not just a couple blocks. It's miles."...
In North Carolina, unimpeded GOP drives state hard to the right Washington Post ...Backed by throngs of chanting supporters, dozens of liberal demonstrators are subjecting themselves to arrest each Monday at the state legislature here to protest a flurry of bills that could transform North Carolina into a model of conservative governance...
Jerry Hanson: Scott Walker's Wisconsin has gone to the dogs (opinion) The Cap Times ...the legislative budget committee ... extended a friendly paw to “big money” by declaring that people could NOT challenge construction of high-capacity wells that might draw down water levels so significantly as to impact neighboring wells, streams or lakes...
Wednesday, May 15, 2013
Today's Teamster News 05.15.13
Fast-food workers stage protests for higher wages USA Today ...A recent wave of strikes by fast-food employees in four cities is expected to spread to Milwaukee Wednesday as demands for higher pay shake up an industry previously insulated from worker unrest...
Tougher drunken driving threshold weighed Associated Press ...Federal accident investigators were weighing a recommendation Tuesday that states reduce their threshold for drunken driving from the current .08 blood alcohol content to .05, a standard that has been shown to substantially reduce highway deaths in other countries...
Walmart Sues Labor Organizations Over 'Disorderly Conduct' That Helped Spark National Protests Huffington Post ...Walmart is accusing two labor organizations of "disorderly conduct" during a protest at a Los Angeles-area Walmart last year that helped set off a chain of demonstrations nationwide against the retail giant...
Gap, Walmart Fail To Endorse Bangladesh Safety Accord Backed By Europe's Biggest Retailers Reuters ...Major U.S. retailers, including Gap Inc, declined to endorse an accord on Bangladesh building and fire safety backed by Europe's two biggest fashion chains, a trans-Atlantic divide that may dilute garment industry reform efforts...
Tougher drunken driving threshold weighed Associated Press ...Federal accident investigators were weighing a recommendation Tuesday that states reduce their threshold for drunken driving from the current .08 blood alcohol content to .05, a standard that has been shown to substantially reduce highway deaths in other countries...
Walmart Sues Labor Organizations Over 'Disorderly Conduct' That Helped Spark National Protests Huffington Post ...Walmart is accusing two labor organizations of "disorderly conduct" during a protest at a Los Angeles-area Walmart last year that helped set off a chain of demonstrations nationwide against the retail giant...
Gap, Walmart Fail To Endorse Bangladesh Safety Accord Backed By Europe's Biggest Retailers Reuters ...Major U.S. retailers, including Gap Inc, declined to endorse an accord on Bangladesh building and fire safety backed by Europe's two biggest fashion chains, a trans-Atlantic divide that may dilute garment industry reform efforts...
Eight top fashion retailers fail to sign Bangladesh safety accord The Guardian ..."Are 1,200 dead workers not enough to make them realise something needs to be done?"...
DOD poised to trim furlough days, add exemptions Associated Press ...The Defense Department is poised to trim the number of civilian furlough days from 14 to 11 and will allow the military to exempt thousands of additional workers from the unpaid day off requirements, according to defense officials...
CBO Update: Deficit Shrinking Rapidly Calculated Risk ...The rapidly declining deficit might provide policymakers some room to alter the ill-conceived sequestration budget cuts. But at the least, this takes all short term (next 2 to 3 years) deficit reduction proposals off the table...
Elizabeth Warren Pushes Feds For Answer On Big Bank Enforcement Huffington Post ...Sen. Elizabeth Warren raised the stakes of her quest to find out why a single Wall Street bank has not been prosecuted in the aftermath of the financial crisis Tuesday, sending a letter to the heads of three federal agencies...
New Amtrak Engines Unveiled for Northeast New York Times ...Amtrak rolled out three new locomotives on Monday, the first step in the railroad’s plan to modernize its aging fleet of trains...
Former Florida GOP Hispanic outreach director switches to Democrat Miami Herald ...Pablo Pantoja, who was at one time employed as the RNC's Hispanic outreach director in Florida but has switched to Democrat, citing "the culture of intolerance surrounding the Republican Party…
Officials mark new W.Va. pipeline safety law Associated Press ...State and local officials are marking West Virginia's new pipeline safety law. The legislation raises state penalties for safety violations to federal levels...
NJ Governor Vetoes Early Voting Bill FMF News ...New Jersey Governor Chris Christie (R) vetoed a bill on Thursday that would have created 14 days of in-person early voting in New Jersey...
Workers strike at IKEA Richmond store CBC News ...IKEA's Richmond store is behind picket lines after the Teamsters union served the company with a strike notice last week. Teamsters Local 213 in Vancouver, BC — which represents 350 store employees — takes issue with the company's contract offers, rejected twice by members, which proposed a return to a tiered-wage system...
DOD poised to trim furlough days, add exemptions Associated Press ...The Defense Department is poised to trim the number of civilian furlough days from 14 to 11 and will allow the military to exempt thousands of additional workers from the unpaid day off requirements, according to defense officials...
CBO Update: Deficit Shrinking Rapidly Calculated Risk ...The rapidly declining deficit might provide policymakers some room to alter the ill-conceived sequestration budget cuts. But at the least, this takes all short term (next 2 to 3 years) deficit reduction proposals off the table...
Elizabeth Warren Pushes Feds For Answer On Big Bank Enforcement Huffington Post ...Sen. Elizabeth Warren raised the stakes of her quest to find out why a single Wall Street bank has not been prosecuted in the aftermath of the financial crisis Tuesday, sending a letter to the heads of three federal agencies...
New Amtrak Engines Unveiled for Northeast New York Times ...Amtrak rolled out three new locomotives on Monday, the first step in the railroad’s plan to modernize its aging fleet of trains...
Former Florida GOP Hispanic outreach director switches to Democrat Miami Herald ...Pablo Pantoja, who was at one time employed as the RNC's Hispanic outreach director in Florida but has switched to Democrat, citing "the culture of intolerance surrounding the Republican Party…
Officials mark new W.Va. pipeline safety law Associated Press ...State and local officials are marking West Virginia's new pipeline safety law. The legislation raises state penalties for safety violations to federal levels...
NJ Governor Vetoes Early Voting Bill FMF News ...New Jersey Governor Chris Christie (R) vetoed a bill on Thursday that would have created 14 days of in-person early voting in New Jersey...
Workers strike at IKEA Richmond store CBC News ...IKEA's Richmond store is behind picket lines after the Teamsters union served the company with a strike notice last week. Teamsters Local 213 in Vancouver, BC — which represents 350 store employees — takes issue with the company's contract offers, rejected twice by members, which proposed a return to a tiered-wage system...
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Friday, May 3, 2013
Today's Teamster News 05.03.13
"Fix the Debt" CEOs Enjoy Taxpayer-Subsidized Pay Institute for Policy Studies ...A new report by IPS and Campaign for America's Future shows that America’s top CEOs are pocketing massive taxpayer subsidies at the same time they’re pushing austerity cutbacks in government programs that benefit ordinary citizens...
Foreclosure Settlement Checks Significantly Smaller Than Regulators Forecasted: Homeowners Huffington Post ...Adam Crain reckoned he was due $125,000. That amount would come as compensation for losing his Oak Harbor, Wash., home to foreclosure while he was serving aboard a naval vessel in the Middle East. He calculated that sum using a table distributed by federal regulators. Eight hundred dollars was all he received...
US Manufacturing Growth Slows; Construction Spending Falls Reuters ...The pace of U.S. manufacturing growth slowed in April as the sector expanded only modestly, an industry report showed on Wednesday. A separate report showed that construction spending fell in March...
Clinton waiting in the wings, Democratic group paves way for a woman president NBC News ...With former Secretary of State Hillary Clinton waiting in the wings, a prominent Democratic group launched an effort Thursday to pave the way for electing America's first woman president...
Koch brothers making Cassidy Senate campaign a 2014 priority Times-Picayune ...The conservative billionaire Koch brothers, who poured millions of dollars into the 2012 elections, have given their largest single political action committee donation for the 2014 mid-term races to Rep. Bill Cassidy, R-Baton Rouge, who is challenging Sen. Mary Landrieu, the three-term Democratic incumbent, in next year's Louisiana Senate race...
GOP Senator: I Voted Against Equal Pay For Women Because We Have Enough Laws Think Progress ...Women in full-time year-round jobs earned 77 cents for every dollar earned by a man. Yet, at a town hall earlier this week, Sen. Kelly Ayotte (R-NH) claimed that Congress has done enough to ensure that women receive equal pay for equal work. Indeed, she justified her vote against legislation intended to prevent employers from dodging federal equal pay law…
US flag-covered spire hoisted to NY's WTC roof Associated Press ...Adorned with an American flag that flapped in the breeze, the last pieces of a silver spire were hoisted to the top of the World Trade Center on Thursday as construction workers cheered its ascent...
A Single Garment Of Destiny’ For American And Bangladeshi Workers Shanker Blog ...“Injustice anywhere,” Martin Luther King famously wrote in his Letter from a Birmingham Jail, “is a threat to justice everywhere. We are caught in an inescapable network of mutuality, tied in a single garment of destiny.” Two recent events which might seem worlds apart provide evidence that working people around the globe are indeed tied together in King’s “single garment of destiny.”...
US trade deficit drops to $38.8 billion in March as flow of crude oil falls to 17-year low Associated Press ...The U.S. trade deficit narrowed in March for a second month as the daily flow of imported crude oil dropped to the lowest level in 17 years. The deficit with China hit a three-year low...
Rep. Chris Taylor: Judge astonished at Scott Walker's attack on rights The Cap Times ...Gov. Scott Walker boasts about having the courage to stand up to public workers. He’ll tell right-wing audiences that crowds of 100,000 protesters outside of his office didn’t rattle him. Yet Walker has spent the last eight months, and thousands of taxpayer dollars, issuing $200 citations to individuals for peacefully singing, holding signs and, in some instances, walking in circles around the rotunda...
Europe's workers cry May Day against austerity The Guardian ...May Day is traditionally a time when European workers would pause to celebrate labor rights and the reforms which were won from employers and governments in earlier days. But with more people out of work across Europe than ever before, there has been an outpouring of anger over the region's financial plight...
Texas state officials tell legislators that educating West residents about plant was local responsibility Dallas Morning News …Texas Department of Public Safety officials told state lawmakers that educating residents in West – and in other Texas towns – about possible dangers of chemicals stored in nearby facilities falls to local officials…
NC Senators Force ALEC Bill Through Committee Without Even Counting Votes Nation of Change ...ALEC and the SPN groups have made killing clean energy incentives a national priority this year; after failing in Kansas, facing delays in Ohio and having a rough start in North Carolina...
Tom Morello Liberates Four 'Union Town' Songs for May Day SPIN ...Get 'em while they're free. To commemorate International Workers' Day, a.k.a. May Day (May 1), political firebrand/'90s rock icon Tom Morello has partnered with the International Brotherhood of Teamsters to share tracks from the Union Town EP, the 2011 release from Morello's Nightwatchman project...
Huge Response To Teamsters’ Tom Morello Labor Music Giveaway Crashed The Servers – But We’re Back! IBT ...Wow! The response to our Tom Morello “Union Town” music giveaway at Teamster.org was so overwhelming, it crashed the web servers! Luckily, we’re back up and running...
UPS driver honored for 30 years of safe deliveries Yakima-Herald ...Peggy Larson is too polite to tell us how to drive. But if more of us drove like she does, the roads would be a lot safer. Larson, 54, of Port Orchard last month completed her 30th accident-free year as a driver for United Parcel Service...
Foreclosure Settlement Checks Significantly Smaller Than Regulators Forecasted: Homeowners Huffington Post ...Adam Crain reckoned he was due $125,000. That amount would come as compensation for losing his Oak Harbor, Wash., home to foreclosure while he was serving aboard a naval vessel in the Middle East. He calculated that sum using a table distributed by federal regulators. Eight hundred dollars was all he received...
US Manufacturing Growth Slows; Construction Spending Falls Reuters ...The pace of U.S. manufacturing growth slowed in April as the sector expanded only modestly, an industry report showed on Wednesday. A separate report showed that construction spending fell in March...
Clinton waiting in the wings, Democratic group paves way for a woman president NBC News ...With former Secretary of State Hillary Clinton waiting in the wings, a prominent Democratic group launched an effort Thursday to pave the way for electing America's first woman president...
Koch brothers making Cassidy Senate campaign a 2014 priority Times-Picayune ...The conservative billionaire Koch brothers, who poured millions of dollars into the 2012 elections, have given their largest single political action committee donation for the 2014 mid-term races to Rep. Bill Cassidy, R-Baton Rouge, who is challenging Sen. Mary Landrieu, the three-term Democratic incumbent, in next year's Louisiana Senate race...
GOP Senator: I Voted Against Equal Pay For Women Because We Have Enough Laws Think Progress ...Women in full-time year-round jobs earned 77 cents for every dollar earned by a man. Yet, at a town hall earlier this week, Sen. Kelly Ayotte (R-NH) claimed that Congress has done enough to ensure that women receive equal pay for equal work. Indeed, she justified her vote against legislation intended to prevent employers from dodging federal equal pay law…
US flag-covered spire hoisted to NY's WTC roof Associated Press ...Adorned with an American flag that flapped in the breeze, the last pieces of a silver spire were hoisted to the top of the World Trade Center on Thursday as construction workers cheered its ascent...
A Single Garment Of Destiny’ For American And Bangladeshi Workers Shanker Blog ...“Injustice anywhere,” Martin Luther King famously wrote in his Letter from a Birmingham Jail, “is a threat to justice everywhere. We are caught in an inescapable network of mutuality, tied in a single garment of destiny.” Two recent events which might seem worlds apart provide evidence that working people around the globe are indeed tied together in King’s “single garment of destiny.”...
US trade deficit drops to $38.8 billion in March as flow of crude oil falls to 17-year low Associated Press ...The U.S. trade deficit narrowed in March for a second month as the daily flow of imported crude oil dropped to the lowest level in 17 years. The deficit with China hit a three-year low...
Rep. Chris Taylor: Judge astonished at Scott Walker's attack on rights The Cap Times ...Gov. Scott Walker boasts about having the courage to stand up to public workers. He’ll tell right-wing audiences that crowds of 100,000 protesters outside of his office didn’t rattle him. Yet Walker has spent the last eight months, and thousands of taxpayer dollars, issuing $200 citations to individuals for peacefully singing, holding signs and, in some instances, walking in circles around the rotunda...
Europe's workers cry May Day against austerity The Guardian ...May Day is traditionally a time when European workers would pause to celebrate labor rights and the reforms which were won from employers and governments in earlier days. But with more people out of work across Europe than ever before, there has been an outpouring of anger over the region's financial plight...
Texas state officials tell legislators that educating West residents about plant was local responsibility Dallas Morning News …Texas Department of Public Safety officials told state lawmakers that educating residents in West – and in other Texas towns – about possible dangers of chemicals stored in nearby facilities falls to local officials…
NC Senators Force ALEC Bill Through Committee Without Even Counting Votes Nation of Change ...ALEC and the SPN groups have made killing clean energy incentives a national priority this year; after failing in Kansas, facing delays in Ohio and having a rough start in North Carolina...
Tom Morello Liberates Four 'Union Town' Songs for May Day SPIN ...Get 'em while they're free. To commemorate International Workers' Day, a.k.a. May Day (May 1), political firebrand/'90s rock icon Tom Morello has partnered with the International Brotherhood of Teamsters to share tracks from the Union Town EP, the 2011 release from Morello's Nightwatchman project...
Huge Response To Teamsters’ Tom Morello Labor Music Giveaway Crashed The Servers – But We’re Back! IBT ...Wow! The response to our Tom Morello “Union Town” music giveaway at Teamster.org was so overwhelming, it crashed the web servers! Luckily, we’re back up and running...
UPS driver honored for 30 years of safe deliveries Yakima-Herald ...Peggy Larson is too polite to tell us how to drive. But if more of us drove like she does, the roads would be a lot safer. Larson, 54, of Port Orchard last month completed her 30th accident-free year as a driver for United Parcel Service...
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Thursday, September 16, 2010
Don't kill growth and jobs in the name of deficit reduction
You can't solve a problem unless you know what's causing it, and America's economy won't get fixed unless the government figures out why it sucks so bad.
The problem with the economy is not the deficit, or uncertainty, or high taxes on the wealthy. It's the 28 percent of U.S. households that have at least one person looking for a full-time job.
People aren't buying stuff because they don't have jobs and they don't have any money.
As the peerless Dean Baker said on a conference call this morning, "The story is demand."
Baker joined 299 other economists in signing a statement warning our political leaders,
The economists tell us to remember our history:
The economists want our political leaders in Washington to do three things:
The problem with the economy is not the deficit, or uncertainty, or high taxes on the wealthy. It's the 28 percent of U.S. households that have at least one person looking for a full-time job.
People aren't buying stuff because they don't have jobs and they don't have any money.
As the peerless Dean Baker said on a conference call this morning, "The story is demand."
Baker joined 299 other economists in signing a statement warning our political leaders,
"Today there is a grave danger that the still-fragile economic recovery will be undercut by austerity economics."
The economists tell us to remember our history:
In the Great Depression, Franklin Roosevelt’s New Deal generated growth and reduced the unemployment rate from 25 percent in 1932 to less than 10 percent in 1937. However, the deficit hawks of that era persuaded President Roosevelt to reverse course prematurely and move toward budget balance. The result was a severe recession that caused the economy to contract sharply and sent the unemployment rate soaring. Only the much larger wartime spending of the early 1940s produced a full recovery.
The economists want our political leaders in Washington to do three things:
- send aid to the states whose budget crises threaten recovery by forcing them to lay off school teachers, public safety workers, and other essential workers.
- invest in public service jobs
- invest in infrastructure projects for transportation, water, and energy conservation that will make our economy more productive for years to come.
Don't hold your breath, though.
Wednesday, June 30, 2010
Is our Congress killing our economy?
Atrios points out the danger of cutting off unemployment benefits.
Tuesday, June 22, 2010
It's the Jobs, Stupid: Part II
Jon Walker has a great post over at firedoglake pointing out that Americans OVERWHELMINGLY care more about jobs than the deficit.
Here's the poll.
The disconnect between the Washington elites, who have been swept up in deficit hysteria, and the rest of the country couldn’t be more stark.He couldn't be more right.
Here's the poll.
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