Economy
- Statement on the Financial Market Bailout by Leo W. Gerard On Friday, The House of Representatives passed a bill that allows the government to buy up to $700 billion of bad mortgages and other loans from various financial institutions. The same bill was approved by the Senate earlier in the week, so with the President’s signature, it became the law of the land.
- USW "Main Street Recovery" Economic Plan USW International President Leo W. Gerard and a group of economists and progressive organization leaders have drafted a Main Street Recovery Program to help renew our economy. Read more about this important effort here.
- Economic Renewal Talking Points The policies of the last 30 years have gotten us in this mess. Even Alan Greenspan, former Chair of the Federal Reserve, has admitted that trusting the financial market to regulate itself was a mistake. Clearly, their plan to deregulate, de-unionize and globalize the economy has not worked for working Americans.
- Why Congress Must Provide Aid For States Hit by declining revenues from sales taxes, property taxes and income taxes due to the failing economy and rising unemployment, states are facing dangerous budget shortfalls that jeopardize critical public services and jobs. At least 43 states have dealt with or must address budget shortfalls in their FY 2009 or FY 2010 budgets.
- Impact of State Budget Crisis The last recession forced states to cut services significantly between 2002 and 2004. The results included loss of health care for more than 1 million people, reduced access to child care in 23 states and reduced aid to school districts in 34 states that caused higher textbook fees, shorter school days, reduced transportation and lost education jobs.
