Making It In America
The decision by China to keep the value of its currency artificially low has a direct impact on jobs in the United States. But that's just one of a host of issues the Obama administration and Congress must address to rebuild America's job base and reestablish its global competitiveness. We're calling on the administration and Congress to call out China on its currency manipulation—and to forge an industrial policy that strengthens our economy.
For more than three decades, we have been shedding factories and manufacturing jobs—as well as the suppliers, contractors, shippers, trainers, managers and other jobs that go along with them. Here are some basic facts you should know about the state of American manufacturing, as well as the outlines of a progressive approach that will create new jobs for a 21st-century economy.
ALSO Read Scott Paul on the urgent need to revitalize American manufacturing.... more »
American companies continue to ship good jobs to China. They seek to profit from underpaid, overworked labor with few rights. China, meanwhile, pursues mercantilist policies, promoting its export industries at the expense of those who play by the rules. We can’t continue to let countries like China rig their currency, target our industries and drive us into a race to the bottom. It's time to enforce the rules – and to change the rules that rig the game.
We are in the most anemic recovery in modern history, yet our political leaders in Washington aren’t doing squat about it. In fact, apart from the Fed – which continues to hold interest rates down in the quixotic hope that banks will begin lending again to average people – the government is heading in exactly the wrong direction: raising taxes on the middle class, and cutting spending.
The "chained" CPI is a Social Security benefit cut (not an innocuous "adjustment"), and the majority of voters understand this, with 55% opposing this policy proposal. A new poll, Strengthening Social Security: What Do Americans Want? from the National Academy of Social Insurance (NASI), highlights working people's opposition to benefit cuts, including the "chained" CPI, which reduces the cost-of-living adjustment (COLA). A large majority, 64%, thought the COLA should be increased to better protect seniors and other beneficiaries from inflation and rising prices of food, utilities and other necessities.
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You can help change the economy! Big companies use their size and the fear of losing our jobs to force us to accept no raises or even lower pay and benefits. They can use their size to force communities, states and even the federal government to lower their taxes. You can help change the economy by standing with Walmart workers next week. They have the money but we have the people. more »
Ohio Senator Sherror Brown won reelection by "waging class warfare" using middle-class populism. Here is how. more »
The voters clearly voted to do something about the bad trade deals, trade cheating and currency manipulation that are draining our jobs and economy. The big money likes things just the way they are. Which will prevail -- the voters who just voted, or the big money that just lost? more »
The public looked at the stories about Solyndra and Sensata and voted. They voted for clean energy jobs IN the US, not for vulture capitalism that ships our jobs and industries OUT of the US. They voted to act as a united country instead of a leaving everyone on their own, in it only for themselves. more »
Romney promised that he would act on China's currency manipulation "on his first day." So Republicans can pretend Romney won, and actually act on China's currency manipulation! If they would actually do what they promised to do we could get a lot a lot of "job creation" going on. Or will they continue to obstruct? more »
When it comes to politics, it ain’t over ’til its’ over. And even then it may not be over. With the presidential election just days away, the contest remains close enough to ensure some jangled nerves and nail-biting among Republicans and Democrats. Still, the latest news and numbers should give President President Barack Obama a boost as he delivers his closing argument to voters.
Should Obama emerge the victor when the dust settles after Tuesday, his closing argument will become the winning message. And voters convinced to reward Obama with a second term on the strength of that message will — and should — expect him to live up to its vision and promise.
Austerity is back in the news, and the news about austerity is never good. We've only had de facto austerity on this side of the pond. So as usual, the news is from Europe, where the austerians are going full-tilt boogie. Our homegrown austerians, like their European counterparts, tell us that the kind of severe austerity underway in Europe is necessary to reduce the deficit. Everything from food stamps to Medicaid and Medicare — everything except defense spending — must be cut in order to reduce the deficit.
The thing is, it hasn't worked. In Greece, Europe's austerity poster child, austerity has shrunk the economy and increased the national debt.