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CAP Animation: How the Recovery Works

Thu, 19 Feb 2009 18:06:01 GMT

http://www.americanprogress.org/issues/2009/02/recovery_animation.html http://www.americanprogress.org/issues/2009/02/obama_housing_plan.html READ ABOUT THE OBAMA HOUSING PLAN ABOVE Recovery investment isn’t only about the government paying for individual jobs; it is about rebuilding confidence in the economy and creating an environment that will enable economic growth and spur the private economy to create jobs.

By seeprogress

Tags : american, cap, congress, economy, energy, health, jobs, mortgage, obama, president, progress, progressive, recovery, stimulus, tax

Next Steps in Economic Recovery - ASK THE EXPERT

Wed, 11 Feb 2009 22:01:01 GMT

http://www.americanprogress.org/issues/2009/01/recovery_reinvestment101.html How quickly will we begin seeing the effects of the economic recovery and reinvestment package? How much does the stimulus invest in long-term, rather than short-term, growth? How can we prevent a similar economic downturn in the future? Michael Ettlinger of the Center for American Progress offers the answers in the latest installment of CAPs ASK THE EXPERT series.

By seeprogress

Tags : bank, bush, cap, congress, economy, ettlinger, infrastructure, jobs, obama, progressive, stimulus

All You Can Eat? How Hungry is America in Good Times versus Recession?

Tue, 10 Feb 2009 22:58:03 GMT

http://www.americanprogress.org/issues/2009/02/recovery_animation.html “It is insane, and morally bankrupt, for a nation with this much wealth to allow [hunger] to continue,” said Jim Weill, president of the Food Research and Action Center, at a Center for American Progress event Friday morning. At the event, CAP Policy Analyst Joy Moses led a panel discussion on the importance of a new U.S. commitment to end food insecurity and hunger for all Americans. Panelist Joel Berg, executive director of the New York City Coalition Against Hunger and author of All You Can Eat: How Hungry is America?, noted that in 2007, more than 36.2 million Americans either did not have enough food or feared they would not have enough at some point during the year. “Hunger,” he said, “should be on the same level as what people thought about cholera, malaria, and yellow fever. These have all been eradicated with the government’s help.” Berg added that with the aid of the federal government, hunger can be eradicated in a few short years. Federal programs have already made progress. The establishment of food safety net programs, or federal aid and entitlement packages aimed at assisting in the purchase of food for hungry families, has helped to stem the prevalence of starving children that once filled the streets in the early 20th century. Today’s hunger problems require targeted assistance. “Current food insecurity,” Weill noted, “is often a choice between food and rent, or between food and health care.” As a result, policies focused on bolstering support for poor and working-class families will have the largest effect on hunger. Weill noted that hunger experts “almost unanimously agree we need to boost food stamp programs. Dollar for dollar, they have the best value.” Congress has clearly taken note. The version of the recovery package recently passed by the House of R

By seeprogress

Tags : american, cap, children, congress, economy, food, hunger, obama, poverty, progress, progressive, recession, stimulus

The Truth About the Stimulus - Rescuing the Economy

Mon, 09 Feb 2009 19:42:07 GMT

http://www.americanprogress.org/issues/2009/01/recovery_reinvestment101.html Heather Boushey of the Center for American Progress debunks some of the myths and falsehoods making the rounds of talk radio & the cable news programs on the stimulus bill. This recession has the potential to be deeper and more protracted than most other recessions. The Federal Reserve can normally encourage economic activity by lowering the cost of borrowing, but these tools are not as effective as they are in more typical recessions because of the crisis facing the financial sector. The Federal Reserve has already used up its most common ammunition to boost the economy—the Federal Funds Rate. It lowered the Federal Funds Rate to about zero percent in December 2008 from 5.25 percent in August 2007. Even so, economists are forecasting that economic growth will continue to be negative in 2009, and the end of the economic downturn is nowhere in sight. What’s more, U.S. families began this recession with less to fall back on than in prior recessions because of existing economic weaknesses. Income growth had been weak, and Americans had more debt and fewer assets than at the beginning of prior recessions. Since consumers make up over 70 percent of the U.S. economy, the weakness of family finances will likely hamper the economy’s ability to recover quickly. Why does a stimulus and recovery plan help? The recovery and reinvestment package is designed to break the cycle of job loss and economic decline. An economy suffering from lack of demand needs a jump-start. The stimulus allows the government to step in and create demand by making purchases itself; it directly puts people back to work and gets money into people’s pockets so they can spend again. Businesses begin, in turn, to hire and make investments as they regain confidence that there is a market for what they produce. The downward spiral becomes an upward spiral. What

By seeprogress

Tags : american, bank, cap, congress, conservative, deficit, economy, limbaugh, obama, pork, progress, recession, seeprogress, stimulus, tarp, tax

Rescuing the Economy: How Does the Stimulus Work?

Thu, 05 Feb 2009 19:50:01 GMT

http://www.americanprogress.org/issues/2009/01/recovery_reinvestment101.html Michael Ettlinger from the Center for American Progress explains why the US economy needs a stimulus bill passed that leads with public investments. THE FACTS 1) WE ARE LOSING 15,000 JOBS A DAY. 2) THIS BILL IS ABOUT JOBS: IT SAVES JOBS, CREATES JOBS, HELPS PEOPLE WHO LOST THEIR JOBS, and LAYS THE FOUNDATION FOR FUTURE JOBS. 3) CONSERVATIVES ARE PUSHING THE SAME, OLD FAILED BUSH POLICIES THAT GOT US HERE IN THE FIRST PLACE – tax cuts that benefit big corporations and CEO’S at the expense of the middle class. STIMULUS BACKGROUND: 1) SAVES AND CREATES 3-4 MILLIONS JOBS: The recovery bill will save jobs that are currently on the chopping block and create jobs by making targeted investments and boosting economic activity. Relief for state and local governments will help them avoid making the layoffs of police, firefighters and teachers, more spending cuts, and tax increases that will worsen the downturn. Stemming the downturn will protect private sector jobs that are on the verge of being cut. The recovery bill will make targeted investments that will create millions of jobs. For example, the recovery bill’s… Investments in energy will create 459,000 jobs. Investments in infrastructure will create 377,000 jobs. Investments in education will create 250,000 jobs. Leading economists like Mark Zandi have concluded that targeted spending is the most efficient way to create jobs in a recession 2) HELPS PEOPLE WHO LOST THEIR JOBS: The recovery bill will help people who lost their jobs with middle-class tax cuts and investments in programs that will put money in the hands of people who will spend it and protect the most vulnerable. The “make work pay” tax cut will give $1,000 to 95 percent of families. Expanding unempl

By seeprogress

Tags : american, bank, cap, congress, economy, education, energy, health, jobs, money, obama, progress, recession, recovery, stimulus

Help for Students, Help for the Economy

Thu, 05 Feb 2009 14:46:01 GMT

http://www.americanprogress.org/issues/2009/01/recovery_reinvestment101.html http://www.americanprogress.org/issues/2009/01/ctc_house_senate.html What kind of education provisions are included in the recovery and reinvestment package? And why is education important to economic stimulus? The Center for American Progress's Raegen Miller answers these questions in the latest installment of CAP's ASK THE EXPERT series.

By seeprogress

Tags : american, cap, children, congress, economy, education, invest, obama, progress, raegen, recession, recovery, school, stimulus, teacher

Priming the Pump: Policymakers Should Consider with a Stimulus Package

Tue, 27 Jan 2009 15:07:00 GMT

http://www.americanprogress.org/issues/2009/01/lilly_stimulus.html Confronting the growing economic crisis will be the first order of business for the new Congress and the incoming Obama administration. Should the incoming administration work to deliberately increase the size of a federal deficit already projected by the Congressional Budget Office to exceed $1.2 trillion for the current year? How big should a stimulus package be? How should it be structured? These are the questions that a Center for American Progress panel on fiscal stimulus will grapple with at an upcoming event. Part of the discussion will involve what the Labor Department's December employment report will tell us about the future course of the economy and the need for stimulus. Featured Panelists: Jim Horney, Director of Federal Fiscal Policy at the Center on Budget and Policy Priorities who has previously served as Deputy Democratic Staff Director at the Senate Budget Committee and Chief of the Projections Unit at the Congressional Budget Office Ellen Hughes-Cromwick, Chief Economist for Ford Motor Company who also currently serves as President of the National Association for Business Economics and formerly served as Staff Economist on the President's Council of Economic Advisers Brian M. Riedl, (invited) Lead Budget Analyst at The Heritage Foundation and Grover Hermann Fellow in Federal Budgetary Affairs, Thomas A. Roe Institute for Economic Policy Studies Moderated by: Scott Lilly, Senior Fellow, Center for American Progress, former Clerk and Staff Director of the House Appropriations Committee and the Congressional Joint Economic Committee

By seeprogress

Tags : american, budget, business, cap, congress, deficit, economy, infrastructure, lilly, obama, progress, progressive, recession, stimulus, tax

The Tyranny of Dead Ideas - Matt Miller with David Brooks

Mon, 12 Jan 2009 16:12:01 GMT

http://www.mattmilleronline.com/ What's the greatest threat to our economic future? The things we think we know but don't... America is at a crossroads. In the face of global competition and rapid technological change, our economy is about to face its most severe test in nearly a century—one that will make the recent turmoil in the financial system look like a modest setback by comparison. Yet our leaders have failed to prepare us for what lies ahead because they are in the grip of a set of "dead ideas" about how a modern economy should work. They wrongly believe that * Our kids will earn more than we do * Free trade is always good, no matter who gets hurt * Employers should be responsible for health coverage * Taxes hurt the economy * Schools are a local matter * Money follows merit These ways of thinking—dubious at best and often dead wrong—are on a collision course with economic developments that are irreversible. In The Tyranny of Dead Ideas, Matt Miller offers a unique blend of insights from history, psychology, and economics to illuminate where today's destructive conventional wisdom came from and how it holds our country back. He also introduces us to a new way of thinking—what he calls "tomorrow's destined ideas"—that can reinvigorate our economy, our politics, and our day-to-day lives. These destined ideas may seem counterintuitive now, but they will coalesce in the coming years in ways that will transform America. A strikingly original assessment of our current dilemma and an indispensable guide to our future, Miller's provocative and path-breaking book reveals why it is urgent that we break the tyranny of dead ideas, for it is only by doing so that we can move beyond the limits of today's obsolete debates and reinvent American capitalism and democracy for the twenty-first century.

By seeprogress

Tags : american, cap, dead, economy, environment, green, ideas, matt, miller, money, progress, progressive, stimulus, tyranny

Helping the Economy Recover - ASK THE EXPERT

Wed, 19 Nov 2008 15:58:03 GMT

http://www.americanprogress.org/issues/2008/11/economic_snapshot.html What can Congress do to help the economy recover? Why do we need a second stimulus, and how big should it be? How will this spending and investment help the economy recover? Michael Ettlinger of the Center for American Progress adderesses these questions in the latest installment of CAP's ASK THE EXPERT series.

By seeprogress

Tags : american, bailout, bernanke, bush, congress, credit, debt, economy, ettlinger, invest, market, obama, paulson, progress, progressive, stimulus, street, treasury, wall

Change for America: A Progressive Blueprint for the 44th President Part 4

Fri, 14 Nov 2008 22:52:31 GMT

http://www.americanprogressaction.org/issues/2008/changeforamerica/ Change for America: A Progressive Blueprint for the 44th President is a framework to help the next administration steer the government in a new, more progressive direction. In conjunction with the release, we are hosting a series of exciting panels on economic policy, national security, democracy, and climate change led by the authors of the book. Read About the book and download online exclusive chapters thru the link above.

By seeprogress

Tags : american, cap, care, congress, credit, debt, economy, energy, environment, government, health, house, iraq, money, president, progress, security, seeprogress, stimulus, war, white

Change for America: A Progressive Blueprint for the 44th President Part 1

Fri, 14 Nov 2008 22:48:09 GMT

By seeprogress

Tags : america, american, blueprint, change, debt, economy, energy, environment, for, money, obama, president, progress, progressive, security, stimulus