Category Economic security

DEREGULATION AND THE ELECTION OF TRUMP

Thirty years of deregulation have produced a declining standard of living and reduced economic security for the working and middle class. This is causing them significant stress and anxiety. In particular, there is strong evidence of the toll this is taking on the members of the white working and middle class. After decades of increasing […]

TO REGULATE OR DEREGULATE? THAT IS THE QUESTION

Regulations put in place after the financial collapse of 1929 and the resultant Great Depression served the country well. The current push for deregulation began with the deregulation of the railroad and trucking industries in the late 1970s. The consensus at the time was that regulations in these industries were not serving the public interest. […]

LOW-WAGE BUSINESS MODEL CREATES PARASITE ECONOMY

The term the parasite economy is being applied to employers whose business model is built on low-wage jobs. These corporations take more out of their employees and society than they put in, hence they are parasites. The low incomes of their workers mean that the workers can only survive with the support of the publicly-funded […]

THE TRUTH ABOUT RAISING THE MINIMUM WAGE

 Whenever a proposal to raise the minimum wage is put forth, especially one for a significant increase such as to $15 per hour (the current federal minimum wage is $7.25), the business community and its allies among elected officials immediately warn that there would be dramatic negative effects on the number of jobs and the […]

A CONSENSUS ON TRADE TREATIES?

Most of the presidential candidates agree that past trade treaties have had negative effects on US workers and that future trade treaties need to take a different approach. This would appear to be bad news for the Trans-Pacific Partnership (TPP) and other trade agreements that are in various stages of negotiation and ratification. Bernie Sanders […]

PRESIDENTIAL CANDIDATE SANDERS ON DEMOCRATIC SOCIALISM

Democratic presidential candidate Bernie Sanders recently gave a speech focused on defining what he means by democratic socialism and why he has identified as a socialist for his entire political career. Our mainstream corporate media can’t seem to cover him or his campaign without labeling him a socialist. The intent seems to be to identify […]

GOOD NEWS FOR US WORKERS

ABSTRACT: This Labor Day workers were able to celebrate falling unemployment, increased hiring, improved access to health insurance, and increases in the minimum wage. Expanded eligibility for overtime pay is also in the works. And the US Labor Department has proposed a new regulation that would cover home care workers under minimum wage and overtime […]

WORKING HARD, GAINING LITTLE

FULL POST: We recently celebrated the Labor Day holiday and workers in the US do have some things to celebrate, but in general the outlook is bleak. First, the bad news, and then in my next post the good news. Wages (adjusted for inflation) fell 4% between 2009 (when the recovery officially started) and 2014. […]

PROVIDING ECONOMIC SECURITY FOR OUR SENIORS

ABSTRACT: We need to improve the economic security of today’s – and tomorrow’s – senior citizens. Strengthening and expanding Social Security is the third of the Ten Big Ideas to Save the Economy. Reliance on Social Security is increasing. Despite its maximum benefit of only $32,000 per year, for one-third of seniors it’s 90% of […]

BIG IDEAS TO HELP WORKING PARENTS

ABSTRACT: Working parents in the U.S. are struggling both to make ends meet and to be good parents. They need to be paid a reasonable wage so that full-time work provides a decent standard of living for their families (as it used to). Furthermore, employers and government should work together to ensure that workplaces are […]

WHY ECONOMIC INEQUALITY CONTINUES TO GROW AND WHAT YOU CAN DO ABOUT IT

ABSTRACT: Despite many indicators that our economy is strong, most Americans are experiencing economic insecurity. Over half of US households have less than one month’s income in regular savings and median household income continues to decline. Low-wage workers at Walmart, McDonalds, and elsewhere are so poor they are receiving $45 billion in public assistance. This […]

THE UNDERMINING OF THE MIDDLE CLASS

ABSTRACT: Senator Elizabeth Warren gave a great speech recently in which she laid out how actions taken by corporations and related policy changes have undermined the middle and working class. She also spelled out what we need to do to change the rules of our economy so it works for everyone, not just the wealthiest. […]

40 YEARS OF CLASS WARFARE

ABSTRACT: Class warfare has been going on in the US for 40 years, but most people either haven’t realized that it is class warfare, or deny its existence. Inequality between the wealthy, elite class and the middle and working class has grown dramatically. This is the result of policy decisions made by federal and state […]

THE IGNORED DEFICIT IN PUBLIC GOODS

ABSTRACT: The federal government’s budget deficit is getting more attention than it deserves. It is half of what it was in 2009 and is at what economists consider a manageable level. Meanwhile, our deficit in investments in public goods is being almost totally ignored. Public goods are things of value to society but in which […]

HISTORY AND LEAKS MAKE CASE AGAINST “TRADE” TREATIES

ABSTRACT: Twenty years of experience with previous “trade” treaties and the recent leaks of draft language for the Trans-Pacific Partnership (TPP) make the case that the “trade” treaties currently in negotiation will not benefit the US economy, our workers, or our middle class. These treaties focus on and benefit multi-national corporations and investors, rather than […]

TRADE TREATIES NEED OPEN DEBATE, NOT FAST TRACK

ABSTRACT: Action in Congress on requiring Fast Track consideration of trade treaties is likely to happen soon. Two broad “trade” agreements are scheduled for Congressional action this year: the Trans-Pacific Partnership (TPP) with a dozen Pacific Rim countries and the Trans-Atlantic Free Trade Agreement (TAFTA) with the European Union (EU). Fast Track authority requires that […]

GOOD NEWS FROM THE GRASSROOTS

ABSTRACT: The dysfunction in Washington is discouraging. However, there is good news from the grassroots. Every day people are standing up and taking action when government policies and corporate practices are favoring special interests over the interests of the average citizen and worker. Workers at Wal-Mart and in the fast food industry are taking action […]

THOUGHTS ON SOCIAL AND ECONOMIC JUSTICE

FULL POST: Social and economic justice have been in the news lately. Here are some quotes from Nelson Mandela, the Pope, and President Obama that appeared in the news over the last week. Nelson Mandela [1] “Overcoming poverty is not a task of charity, it is an act of justice. Like Slavery and Apartheid, poverty […]

FUNDING SOCIAL SECURITY

ABSTRACT: Advocates for cutting Social Security benefits claim that cuts are needed because of a future funding shortfall. However, Social Security’s projected shortfall is small and 20 years in the future. Moreover, there are adjustments to the funding for Social Security that will easily eliminate the future funding shortfall. The two most frequently mentioned ways […]

THE RETIREMENT CRISIS AND SOCIAL SECURITY

ABSTRACT: There is a retirement crisis in America. Both current and soon-to-be retirees are more dependent on Social Security than ever, yet some politicians and corporate executives are arguing that Social Security should be cut. Senator Elizabeth Warren of Massachusetts recently gave a speech in the Senate where (in only five and a half minutes) […]

CHARITY ISN’T THE ANSWER

ABSTRACT: Some people advocate for reducing government spending on social welfare programs by arguing that private charity should and could address social needs. However, when people’s needs are essential and time sensitive, charity is insufficient and undependable. For example, charities won’t be able to fill the $5 billion hole left by the recent cuts to […]

STARVING AMERICA

ABSTRACT: On November 1, federal food assistance to poor Americans was cut by $5 billion. The $78 billion Food Stamps program, officially known as the Supplemental Nutrition Assistance Program (SNAP), currently serves 48 million low income Americans, including 21 million children. This reduction in food assistance from the federal government is equal to the amount […]