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Washington, DC-Just after President Obama's speech to a joint session of the US Congress on his new plan to stimulate job growth entitled "The American Jobs Act," the national policy center Demos published a point-by-point analysis of the plan. Based on the deep economic troubles facing this nation, including widespread joblessness and stagnant or declining wages, the Demos analysis concludes that the President's plan is a good start, and tells the right story about how to get the economy moving again.
The $787 billion economic stimulus program, which has now largely expired, helped avert an economic meltdown that was poised to rival the Great Depression. Despite public skepticism about the program, that was the conclusion of a detailed analysis by the nonpartisan Congressional Budget Office. At the outset, however, economists were warning that the stimulus program was far too small to offset an aggregate demand shortfall estimated at upwards of $2 trillion.
In a misguided effort to shore up his reputation with business, President Obama’s recent decision to suspend proposed ozone standards will ultimately result in higher overall costs for the country. The decision also furthers the false notion that we must choose between job creation and environmental protection.
And, says Anastasia Christman of the National Employment Law Project, "his focus on putting young people to work is critical for communities of color." The plan contains funding for summer job and youth work programs.
Today, on the morning of President Obama's jobs speech, the national policy center Demos published a new study detailing how the job losses of the Great Recession are intensifying the threat to America's middle class, which was already struggling after decades of economic stagnation, slow wage growth and rising costs.
Distinguished Senior Fellow and president of CivWorld and the Interdependence Movement Ben Barber recounts his whereabouts on 9/11 and explains why borders don’t matter anymore.