Black People : Will EU Style Austerity plans Come Here?

Discussion in 'Black People Open Forum' started by Ankhur, Jan 25, 2011.

  1. Ankhur

    Ankhur Well-Known Member MEMBER

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    While European banks, bailed out by the Federal Reserve,
    enjoy their money

    austerity measures,
    spending freezes and cuts in governmwent benefits and programs are going on all over, n Europe

    After biting the bullet for 8 years of Bush's madness,
    will the African American community be told

    that the basic benefits folks pay their taxes for will be cut and a spending freeze will occur, which will mean a freeze on new jobs, as well?
     
  2. larry

    larry Well-Known Member MEMBER

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    As I said in a similar post, it seems like the conditioning is rounding the curve and some interesting "movie like" (I say that in reference to documentaries about other countries policies, TV shows social commentaries) policies are really coming down the pipe to seriously put in effect whatever the actual point of a lot of this shifting and maneuvering (banking adjustments, war campaigns on verbs, Hegelian dialectics [red vs blue or Republicans vs Democrats with the illusion of choice to drive home a third true motive not seen or discussed]) . . .

    I don't know, it's a lot to keep up with using just my own mind.
     
  3. Ankhur

    Ankhur Well-Known Member MEMBER

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    "Austerity measures based on the conservative tenets of less government and lower taxes will ratchet down the standard of living for all Americans, while simultaneously widening our nation's racial and economic divide." said Brian Miller, Executive Director of United for a Fair Economy and co-author of the report.


    "The deficits that these tax cuts help create are being used to justify a host of austerity measures that will harm Americans of all races, but will hit Blacks and Latinos the hardest," adds Miller. "With 42 percent of Blacks and 37 percent of Latinos lacking the funds to meet minimal household expenses for even three months should they become unemployed, cutting public assistance programs will have devastating impacts on Black and Latino workers." The report documents the relative importance of safety net programs under threat, such as Social Security, to Blacks and Latinos.

    Blacks are 30 percent more likely to work in public sector jobs than the general work force and 70 percent more likely to work for the federal government.

    http://www.commondreams.org/print/64410
     
  4. Ankhur

    Ankhur Well-Known Member MEMBER

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    National News
    Goin' Broke: Cities, states suffer as U.S. economic crises creeps along

    By Starla Muhammad -Staff Writer-
    Updated Jan 29, 2011 - 10:37:15 AM




    (FinalCall.com) - Anywhere from 50 to 100 cities in 2011 may be declared bankrupt. This bold prediction, made by financial analyst Meredith Whitney last year in media reports, coupled with mounting debt facing cities and states has financial budget officers and legislative officials on state and local levels in a panic. States are frantically implementing austerity measures, cutting important programs that leave the most vulnerable residents even worse off.

    “We've seen a lot of cuts to programs that keep the elderly and disabled in their homes and out of institutions. The bottom line is that many, many of these state budget cuts really have a deep impact on states' most vulnerable residents,” Phil Oliff, policy analyst for the Center on Budget and Policy Priorities told The Final Call.


    This mounting financial crisis has led to cuts in health care, education, police and fire services and social service programs. Some local and state governments are in such dire conditions there are murmurings from some the situation is a similar yet eerie precursor to the eventual debt crisis engulfing Europe and the subprime mortgage debacle that hit the U.S.


    The Center on Budget and Policy Priorities also noted that due to steady decline in tax revenue and budget reserves largely drained, the vast majority of states have made spending cuts that hurt families and reduce necessary services.

    The center notes cuts in 46 states plus the District of Columbia since 2008 have occurred in all major areas of state services, including health care (31 states), services to the elderly and disabled (29 states and the District of Columbia), K-12 education (34 states and the District of Columbia), higher education (43 states), and other areas.


    http://www.finalcall.com/artman/publish/printer_7588.shtml
     
  5. Ankhur

    Ankhur Well-Known Member MEMBER

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    Obama’s directive ticked off several politically safe ways to achieve those cuts, including streamlining government contracting, selling off federal properties, consolidating some agencies, and revamping data collection. When he listed some of these predictable ideas in his State of the Union speech, the response was, predictably, applause.

    But Obama made no mention though of the likely cuts that pose the greatest peril to the needy, including a 50 percent drop in funding for community service block grants that has already been floated. The savings from these grants—which fund an array of community education, health and social service programs in poor, underserved, largely inner-city neighborhoods—would amount to a relatively modest $350 million. Yet the programs that could be defunded or completely eliminated include many of the type that were near and dear to Obama’s heart during his days as a community organizer in Chicago’s South Side.

    The bigger 2012 cuts are likely to be concentrated among the dozens of programs and agencies already identified by the Office of Management Budget as ripe for the chopping block. These include: more than 110 programs in science, technology, engineering and mathematics education across 14 departments and agencies; more than 100 youth-mentoring programs, and 40-plus programs that provide employment and training assistance. Sizeable cuts also loom in departments that disproportionately impact low-income communities of color: Health and Human Services ($4.1 billion), Transportation ($4.0 billion), Education ($2.5 billion), Housing and Urban Development ($2.1 billion), and Justice ($1.4 billion).




    http://www.commondreams.org/view/2011/02/08-8
     
  6. Ankhur

    Ankhur Well-Known Member MEMBER

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    Now just this morning 60 billion went chop, just like that

    but not for corporate welfare;

    The bill would also help coal companies, oil refiners and farmers escape new environmental regulations. Boehner said that "for the first time in many years, the People's House was allowed to work its will."

    "The result was one of the largest spending cuts in American history," he said, according to NBC News.

    Boehner said the party would "not stop here" in its efforts to reduce spending, "not when we're broke and Washington's

    In a statement seen by NBC News, Democratic Leader Nancy Pelosi said the bill would put people out of work and claimed the Republicans reaction to that was "so be it.""Democrats have a different message: 'Show us the jobs,'" she said. "Congressional Republicans have spent the last six weeks ignoring jobs and refusing to offer a plan to grow our economy."

    "Today, they have made matters worse — passing a spending bill that destroys jobs, weakens the middle class, hurts schools and young adults, eliminates assistance to homeless veterans, and diminishes critical investments in our future," she said.


    http://www.msnbc.msn.com/id/41660795/ns/politics-capitol_hill/
     
  7. Ankhur

    Ankhur Well-Known Member MEMBER

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    resetPublished on Monday, February 28, 2011 by The Hill
    Economist's Fodder for Dems: $61 Billion Cut Would Cost 700K Jobs
    by Eric Wasson
    A new report out Monday from Moody’s Analytics economist Mark Zandi estimates that the House-passed seven-month spending bill, which cuts $61 billion in spending, would cost 700,000 jobs by the end of 2012.

    Zandi’s report echoes one by the left-leaning Economic Policy Institute, which concluded the GOP bill would cost 800,000 jobs. Goldman Sachs has found that it could cause as much as a 2 percent loss in economic growth. (Image: Daily Kos) He predicts that this year the bill could cost 400,000 jobs and run the risk of a new recession.

    Zandi estimates that the CR would reduce real growth in gross domestic product by 0.5 percent in 2011 and by 0.2 percent in 2012.

    Congressional Democrats will be sure to cite new estimate as they argue against cuts to spending this year.

    House Republicans argue that their bill should become law as part of a “cut and grow” strategy that they say, by removing uncertainty about higher taxes to pay for government spending, would spur spending by businesses.

    A spokesman for House Speaker John Boehner (R-Ohio) discredited Zandi.

    "The fact that a relentless cheerleader for the failed 'stimulus' - which the Democrats who run Washington claimed would keep unemployment below eight percent - refuses to understand that ending the spending binge will help the private sector create jobs is sad, but not surprising," said Boehner spokesman Michael Steel.

    Zandi, who backed the 2009 Obama stimulus plan, also concludes that allowing the spending fight to cause a lengthy government shutdown would do deep damage to the economy.


    http://www.commondreams.org/headline/2011/02/28-11?print
     
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