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VideoPhiladelphia Takes Out Loan; Liberty Bell Repossession Imminent
by Donna Hernandez on September 1 2009, 2:53PM
Philadelphia Mayor Michael Nutter announced that the city is taking out a short-term loan of $250 million from JP Morgan Chase. The loan has a 3% interest rate until December 1st and will go up to 8% thereafter. Nutter…
Topics: Economy
Broken bootstraps: Black and Latino Youth in Transition
by Michelle Chen on August 28 2009, 9:56PM
They started with nothing, worked tirelessly, saved every penny, pushed their kids hard in school and sent them straight into middle-class suburban bliss. American Dream realized. The end. New research from the Urban Institute paints a more complex picture…
Topics: Economy
Glenn Beck’s Attack On Van Jones: Fantasies & Falsehoods
by Guest Columnist on August 28 2009, 4:52PM
[Editor’s note: I’ve included Glenn Beck’s piece on Van Jones above, in case you’d like to hear a narrator say ‘green jobs’ in a scary voice. I kid, but seriously: while we might see these as the obvious falsehoods…
30% Unemployment, Pre-Recession: Immigrant Communities Need Real Recovery [VIDEO]
by Seth Freed Wessler on August 26 2009, 1:29PM
Crossposted at Huffington Post. Last week, the world’s central bankers got together for a little strategy session in Colorado, and declared that the recovery is on its way. This is the way it works with recessions. They ravage the world,…
Topics: Economy, Immigration, Video & Multimedia
Transit Stagnates Along with the Economy
by Michelle Chen on August 18 2009, 10:06PM
As the recession leaves millions of households barely getting by, crumbling local transit systems have made it a challenge just to get out the door. Though the demand for public transit has soared amid the economic crisis, according to…
Topics: Economy, Environment
by Michelle Chen on August 17 2009, 10:18PM
Given the banking industry’s growing reputation for bilking, cheating, and otherwise betraying naive borrowers, it’s not surprising that a new bank account can be a tough sell in poor urban communities of color. So how should banks get the…
Topics: Economy
Schwarzenegger’s Blockbuster Budget Cuts Terminate the Safety Net [VIDEO]
by Channing Kennedy on August 13 2009, 9:37AM
When financial crisis hit, the California legislature didn’t raise taxes, end tax giveaways, or cut corporate welfare. Instead, they cut services to the people made most vulnerable by the recession — children, the elderly, the sick, victims of domestic…
Topics: Economy, Politics, Schools & Youth, Video & Multimedia
More on Unemployment: Discouraging News
by Michelle Chen on August 7 2009, 7:50PM
As Jonathan Yee notes in his analysis of the latest employment figures, the kind-of-less bad jobless numbers are shadowed by record rates of long-term unemployment. Those who have been out of work for 27 weeks or more has reached…
Topics: Economy
A Chance to Rework Welfare-to-work
by Michelle Chen on July 31 2009, 11:05PM
A few months ago, we looked at the recession as a potential wake-up call for the political forces that brought us welfare reform during the Clinton Era. Now that epidemic levels of joblessness and homelessness are creeping into the…
NY Raises Minimum Wage $0.10, We Do the Math
by Guest Columnist on July 31 2009, 9:59AM
photo credit: Majeed Babar, c/o New York Community Media Alliance By Miriam Leshin On Monday, ethnic and community news media representatives gathered for a press conference on the recent 10-cent increase in the New York state minimum wage and…
Topics: Economy
Gov. Schwarzenegger Cut 100% of Domestic Violence Funding and What Californians Can Do About It
by Jorge Rivas on July 31 2009, 8:37AM
Earlier this week, California Governor Arnold Schwarzenegger, signed a budget plan sent to him by legislators to close the state’s deficit, but only after he used his line-item veto power to slash an additional $500 million in cuts. According…
by Adrienne Maree Brown on July 14 2009, 7:37AM
We’ve all heard about the incident at the Philly pool. Color of Change put out a great incident report in case you missed it. The incident is a classic whites-only racism incident, and it’s reminded me that as responsible racial…
Topics: Economy
The moral equation of budget cuts
by Michelle Chen on July 10 2009, 8:18PM
Here we go again. California may soon seek to balance the budget on the backs of immigrant families. The LA Times reports that Governor Schwarzenegger has proposed imposing a five-year limit on state welfare support for citizen children of…
Topics: Economy, Immigration
by Michelle Chen on July 10 2009, 3:01PM
The pushback against another stimulus package is in full force, with conservatives arguing that the “failure” of the first stimulus proves that another fiscal boost would be a mistake. Let us turn to the annals of wonkdom to establish…
Topics: Economy, Race and Recession
by Leticia Miranda on July 8 2009, 1:05PM
Although I’m a little reluctant to admit it sometimes, I’m from Fresno, CA. But when my girlfriend and I got lost driving back to our Oakland homes from Los Angeles this last weekend, my loyalty to the Central Valley…
Topics: Economy
The Recovery Act Fights Reagan’s Job Training Agenda
by Guest Columnist on July 6 2009, 2:02PM
by Jonathan Yee Need a job? Well, the National Recovery Act has created a great deal of excitement for green jobs and their potential to save the environment and create jobs for low income communities; for example, Oakland’s Green Jobs…
Topics: Economy
by Michelle Chen on June 25 2009, 4:22PM
As the recession rolls on, the federal stimulus package seems more and more like just a drop in the bucket, but even those limited resources are trickling down to an unlevel playing field. The National Black Chamber of Commerce…
by Michelle Chen on June 22 2009, 9:18PM
Are you better off than you were four years ago? How about thirty? For all the political wrangling around the 21st century economy, the promise of the digital age, a new era of global competitiveness… Americans are basically going…
Topics: Economy
by Michelle Chen on June 12 2009, 8:41PM
Green jobs are seen as a vehicle for the climate justice agenda, bringing together economic and environmental advancement. But will the green industries deliver on the lofty promises activists have envisioned? According to a study by Pew Charitable Trusts,…
Topics: Economy, Environment
by Michelle Chen on June 2 2009, 4:17PM
The White House is rolling out a fresh round of New Market Tax Credits as part of the American Recovery and Reinvestment Act. The program is designed to basically sweeten the pot for investors so they will finance development…
Topics: Economy
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