China Trip Verdict: Obama Was Schooled
China Trip Verdict: Obama Was Schooled
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Building a Smart Grid, Smartly
By Eric Lotke
October 27th, 2009
President Barack Obama announced today $3.4 billion in government grants to help build a "smart" electric grid. Like many Obama initiatives, it’s a smart first step. But much more is needed and one piece is rarely mentioned at all. read more »
What We Want From A White House Jobs Summit
The announcement of a White House jobs summit offers an opportunity to reset the political conversation on building an enduring recovery for the 17.5 percent of Americans who are unemployed and underemployed. It matters where that conversation starts: with congressional action to create jobs immediately and a long-term plan for public-investment-led growth, with the centerpiece being featuring a bold commitment to the transition to new energy.... read more »
The Next Financial Crisis
Our banks have gotten into the habit of needing to be rescued through repeated bailouts. During this crisis, Bernanke — while saving the financial system in the short term — has done nothing to break this long-term pattern; worse, he exacerbated it. As a result, unless real reform happens soon, we face the prospect of another bubble-bust-bailout cycle that will be even more dangerous than the one we’ve just been through.... read more »
The Case
Why An Economy for All?
Conservatives call the state of the economy the “greatest story never told,” but in reality it’s an economy reminiscent of the Gilded Age. The myth of a booming economy does not reflect the everyday experiences of working-class Americans. In fact, most Americans see the nation either in or near a recession. We need a broad reassessment of our economic policies.read more »
Minimum Wage Hike: Stimulus When We Need It
On July 24, the federal minimum wage increased to $7.25 an hour. At a time when getting money into the hands of workers—and thus consumers—is key to jump-starting the economy, a 10.7 percent wage increase will mean $1.6 billion in extra purchasing power for the estimated 4.5 million workers directly affected by the increase. read more »
The Facts
Manufacturing Jobs Decline 17% Past Seven Years
Between 2001 and 2007, more 3 million manufacturing workers lost their jobs—a 17 percent decline.
Unfair Taxes, Benefit Wealthy, Hurt Middle Class
Today, the top federal income-tax rate for ordinary income is 35 percent, meaning that earned income is taxed at a rate 2 1/3 higher than income from capital gains
The News
Fisker to Make Plug-in Hybrids at Former G.M. Plant
October 26th, 2009
4.5 Million 'Net' Green Jobs in America Possible by 2030
October 26th, 2009
The Case
Don't You Think It's Time to Reinstate Glass-Steagall?
It's amazing how downright ebullient President Bill Clinton was at that signing ceremony on November 12, 1999 for the law that repealed the Glass-Steagall financial regulations. Those restricting, anti-competitive Depression era laws were finally behind us. Awesome. Fast-forward to now and most of us know how devastatingly expensive that signature was for the American public. read more »
Why Not Tax Wall Street?
Washington is experiencing a rare and disorienting moment. Big ideas for financial reform that have languished for years are suddenly gaining momentum. Instead of taxing folks to clean up after reckless Wall Street bankers, why not tax Wall Street? Instead of tolerating behemoths regarded as "too big to fail," why not break them up before they do more damage to the country? The fact that these and other unsanctioned propositions are in play and even proposed by respectable figures indicates how deeply the established order has been rattled by the financial crisis. It also demonstrates that members of Congress who bailed out the bankers with public money are quite terrified of voter retribution in the next election.read more »
Latest from our Bloggers
nov
20
2009
10:49 am
10:49 am
There was a major victory for accountability this week in the financial reform fight, but there was also a demonstration that when it comes to protecting the profits of bankers at the expense of ordinary people, no institution does it better than the Party of No. read more »
nov
19
2009
11:04 am
11:04 am
President Obama is home from China and the U.S.-China Economic and Security Review Commission today releases its 2009 report to Congress. What have we learned? That we need to pay attention because we’re getting schooled. read more »
nov
18
2009
2:57 pm
2:57 pm
The country needs a jobs program and needs it right now. Cash for Caulkers would be a good start. A new Civilian Conservation Corps would be another. But let's not allow a jobs program to cover over the need for real changes in the structure and core principles of our economy. read more »
nov
18
2009
12:35 pm
12:35 pm
This post is an excerpt of testimony presented to the Senate Agriculture Committee on November 18, 2009 in a hearing on legislation reforming regulation of financial markets. The testimony was presented on behalf of Americans for Financial Reform. read more »
nov
18
2009
10:56 am
10:56 am
House Speaker Nancy Pelosi gets it. No wonder she drives the wingnuts batty.
read more »nov
17
2009
2:35 pm
2:35 pm
Wall Street Reform Matters
Hear AFL-CIO policy director Damon Silvers explain why financial reform is important and his assessment of his debate with American Bankers Association president Edward Yingling.
The banking lobby, as corporate lobbies are wont to do, can build a wonderful Potemkin village of consumer delights, where a defanged government beholden to business interests smiles as unfettered CEOs and marketers rack up their profits and where only the buyer need beware.
This particular village, however, is as flimsy as it is fake, as Damon Silvers, the policy director at the AFL-CIO, demonstrated in a face-off with the banking industry's chief lobbyist, American Bankers Association president Edward Yingling sponsored by the Aspen Institute.read more »
nov
17
2009
10:28 am
10:28 am
We've got a jobs crisis in this country, and we need to fix it—now!
nov
16
2009
11:10 am
11:10 am
Unfortunately, lawmakers aren't doing too well either — and the big bank bonus grab has once again shifted into overdrive.
