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Economy

Let's Try It Again! Another Pass at Jobless Benefits Bill

Let’s Try It Again! Another Pass at Jobless Benefits Bill

by on June 29 2010, 2:21PM

The House votes on extending unemployment benefits today as 1.2 million are at risk of losing their lifeline.

Topics: Economy

How Congress Ignores the Jobless Without Political Worry Infographic

How Congress Ignores the Jobless Without Political Worry

by on June 24 2010, 6:27PM

Frances Fox Piven says it’s because people getting benefits no longer share a public space—where organizing could happen.

Topics: Economy

No End in Sight for Foreclosures

No End in Sight for Foreclosures

by Michelle Chen on June 23 2010, 7:47AM

The recession still has more damage to do. And a new Center for Responsible Lending report says Black and Latino homeowners will continue feeling the worst of it.

Topics: Economy

U.S. Social Forum: Foreclosures Still the Story in Detroit

U.S. Social Forum: Foreclosures Still the Story in Detroit

by on June 23 2010, 7:37AM

Bombed out houses and unemployment lines; empty factories and empty lots. These are the images that have come to animate Detroit’s decline, its deep and deepening depression.

Topics: Economy

Race Drives Jobless Numbers in Worst-Hit Cities

Race Drives Jobless Numbers in Worst-Hit Cities

by Michelle Chen on June 14 2010, 9:29AM

The unemployment rate varies wildly across different regions. But there’s one consistent pattern throughout: to find the people hurting the most, look to the neighborhoods where Black and brown people live. The Economic Policy Institute’s latest breakdown of unemployment looks…

Topics: Economy, Race and Recession

Poll: Jobless Insurance Now, Deficit Reduction Later

Poll: Jobless Insurance Now, Deficit Reduction Later

by on June 8 2010, 10:36AM

The Senate is expected to begin debate today on extending unemployment insurance until November. The overwhelming majority of Americans support doing so, according to a new poll, but the Senate is poised to ignore that fact—not to mention the plight…

Topics: Economy, Race and Recession

A Tale of Two Recessions

A Tale of Two Recessions

by Daisy Hernandez on June 7 2010, 3:31PM

The monthly unemployment numbers are in, largely confirming what we already knew: the 411,000 temporary jobs created by the Census jobs helped but just a little. The overall unemployment rate shifted down from 9.9 percent to 9.7 percent and for…

Topics: Economy

Obama Administration Hopes to Privatize Public Housing

by Daisy Hernandez on June 4 2010, 4:10PM

The Obama administration laid out its plan last week for financing public housing by turning to the private sector. If you’re thinking, “Wait, aren’t those the same guys who just wrecked the economy?” well, that was my question too. Speaking…

Topics: Economy

Senate Says Happy Memorial Day by Taking a Vacation without Extending Unemployment Benefits

by on May 28 2010, 9:30AM

As many as 200,000 people may lose their unemployment insurance benefits in early June, because the Senate has once again failed to extend the program. Senate Democrats announced on Thursday that they were once again unable to pass an extension…

Topics: Economy, Race and Recession

The Violence of a Depression

The Violence of a Depression

by droptheiword on May 26 2010, 10:39AM

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Topics: Economy

Will Congress Get it Together and Pass an Unemployment Insurance Extension?

by on May 25 2010, 10:16AM

The House was expected to vote today to extend unemployment benefits until the end of the year. But according the the Ways and Means Committee press office this morning, the spending measure will not make it to the floor until…

Topics: Economy

Child Care Cuts Expose Longstanding Failure in Welfare Reform

by on May 24 2010, 10:09AM

States across the country are slashing already beleaguered subsidized child care programs and leaving parents without recourse, unable to find a job and too poor to pay for child care without one. The New York Times printed a front page…

Topics: Economy, Race and Recession

Economic Inequality from Cradle to Grave

by Michelle Chen on May 24 2010, 9:27AM

What’s an acceptable level of social inequality? The loaded answer is obviously “none.” But it seems that few people realize what the socioeconomic gaps across racial and gender lines aren’t just about paychecks of different sizes. The damage lasts far…

Topics: Economy, Race and Recession

The Road Forward for Protecting Communities from Shady Lending

by Kai Wright on May 21 2010, 10:57AM

The Senate passed its financial reform bill yesterday with Sen. Chris Dodd’s consumer protection bureau intact. The contours of the debate over policing the products financial players push on communities didn’t change over the course of the drawn out fight….

Topics: Economy

White Wealth and Black Debt Shot Up in ‘Growth’ Years

by Kai Wright on May 17 2010, 3:22PM

The wealth gap between Blacks and Whites has grown by fourfold over the course of Generation X’s lifetime, exploding to $95,000, a study released today found. And the debt burden among African American families has nearly doubled. The study comes…

Topics: Economy

California’s Homeless Farm Workers

by Daisy Hernandez on May 13 2010, 2:44PM

New America Media’s Jacob Simas posted a heartbreaking story and video yesterday about farm workers in Fresno who are creating makeshift homes of tarp and garbage bags in the same fields they once harvested. The fields have been abandoned…

Topics: Economy

Will Banks Be Held Accountable to Communities? [Video]

by Kai Wright on May 3 2010, 10:41AM

Last week, Senate Democrats managed to get their financial reform bill past the Republican blockade. Floor debate on the bill, which would create a consumer protection bureau inside the Federal Reserve, will move forward this week, and the Senate’s…

Topics: Economy

Goldman Sachs Looks Slimy, But It’s Not Alone

by Kai Wright on April 27 2010, 4:00PM

Sen. Carl Levin’s series of hearings on Wall Street’s collapse reached their dramatic climax today, as Goldman Sachs executives sat in for their roles as national punching bags. Everybody from Levin to Sen. John McCain got in on the…

Topics: Economy

What’s at Stake in This Week’s Financial Reform Debate

by Kai Wright on April 26 2010, 9:10AM

The financial reform fight takes center stage on the Senate floor tonight, and likely all week. It is, of course, a dense, complicated and frankly boring bit of public policy. It’s also deeply consequential for communities of color everywhere. We’ll…

Topics: Economy

Regulators Who Ignored Banks’ Predatory Lending

by Kai Wright on April 16 2010, 2:27PM

Sen. Carl Levin spent the morning lashing into former banking regulators who were supposed to have prevented Washington Mutual’s spectacular 2008 failure, which was the largest-ever bank collapse. It’s now clear both the bank and federal regulators knew the subprime…

Topics: Economy