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Posts tagged with 'economic policy'

Weekly Audit: Deficit Reduction = Selling Out to Wall Street

Posted Jun 8, 2010 @ 10:35 am by
Filed under: Economy     Bookmark and Share

by Zach Carter, Media Consortium blogger


Image courtesy of Flickr user epicharmus, via Creative Commons LicenseIn the fall of 2008, decades of finance-first, bankers-know-best economic policies coalesced to create one of the worst economic crises in history, one that the banks themselves could not survive without staggering levels of government support.


Yet astonishingly, nearly two years after the crash, Wall Street is still setting the economic agenda in Washington. As Congress begins to examine broader economic policy, lawmakers are under heavy Wall Street pressure to reduce the federal budget deficit—even though that could mean deepening the jobs crisis without any substantive economic benefits. (more…)

Weekly Audit: Fighting Economic Inequality in Haiti and at Home

Posted Jan 19, 2010 @ 10:01 am by
Filed under: Economy     Bookmark and Share

By Zach Carter, Media Consortium Blogger

Rampant poverty can’t be written off as the result of historical accident or a worker’s incompetence. It is actively cultivated by bad public policies that direct economic resources into the hands of a wealthy few. The resulting inequality creates unnecessary suffering all over the world, from the humanitarian crisis in Haiti to the alarmingly high poverty rate in the United States. (more…)

Weekly Audit: Getting it Right in 2010

Posted Jan 5, 2010 @ 8:21 am by
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By Zach Carter, Media Consortium Blogger

The new decade offers a great opportunity to not only look back on the policies that led to our current economic malaise, but consider other ways of building stability that won’t wreak economic and ecological destruction.

Here’s a quick round up of some smart articles that address how economic policy changes could shift the way we work and live in the next decade. (more…)

Weekly Audit: Time to Audit the Fed

Posted Dec 1, 2009 @ 8:01 am by
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By Zach Carter, Media Consortium Blogger

Two key lawmakers on the House Financial Services Committee, Reps. Alan Grayson (D-FL) and Ron Paul (R-TX), are pushing to authorize a full, comprehensive audit of the Federal Reserve. The plan has sparked fury from both the Fed and the corporate banking industry, but the proposal is so appealing that the controversy is almost laughable.

The Federal Reserve is one of the most powerful economic institutions in the world, but most of its operations are conducted in total secrecy. The Fed’s rescue activities have dwarfed the $700 billion Troubled Asset Relief Program, but without any public accounting. Some of these efforts may have been entirely appropriate, but we don’t even know who the Fed is helping. That fact is a major barrier to establishing effective and fair economic policy. (more…)

Weekly Audit: The Unemployment Epidemic

Posted Nov 10, 2009 @ 9:06 am by
Filed under: Economy     Bookmark and Share

By Zach Carter, Media Consortium Blogger

On Friday, we learned that the U.S. unemployment rate officially broke 10% for the first time since the early Reagan years. This is about as bad as it gets for a modern, developed economy. No economic force takes a heavier toll on a society than rampant joblessness, and few personal setbacks take a deeper psychological toll than being out of a job for months on end. If Congress and President Obama don’t do something to create jobs fast, both are going to pay a hefty political price when next year’s mid-term elections roll around. (more…)